Consumer sentiment hits all time low
Not even during past wars, the 911 aftermath, the Great Recession, and the COVID pandemic have Americans felt this negative about the U.S. economy.
The United States is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, regional officials told The Associated Press on Sunday, though U.S. President Donald Trump said he told representatives “not to rush into a deal.”
Not even during past wars, the 911 aftermath, the Great Recession, and the COVID pandemic have Americans felt this negative about the U.S. economy.
Iranian Revolutionary Guard members now regularly show the public in Tehran how to handle Kalashnikov-style assault rifles.
The 30-year U.S. Treasury yield has hit its highest level in 19 years.
President Donald Trump has considered himself an effective dealmaker above all else, but he appears to have hit a wall with Iran as his tough talk, threats and even military action have not moved Tehran from its long-established positions.
Iran ’s foreign minister said a lack of trust is the biggest obstacle in negotiations to end the war with the U.S., saying Friday that Tehran would be open to diplomatic help, particularly from China, to help ease tensions.
The conflict with Iran continues to drive up prices at the pump.
A ship anchored off the United Arab Emirates was seized and taken toward Iran and another — a cargo ship near Oman — sank after being attacked, authorities said Thursday, as tensions escalated near the Strait of Hormuz.
U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices and intensifies pressure on companies to pass along their rising costs to consumers.
U.S. consumer prices climbed sharply again last month as the 10-week war with Iran pushed energy prices higher.