Trump escalates threats to fire US Federal Reserve Chair Powell
In a Fox Business interview, Trump says he will fire Powell if he does not vacate his board seat when his term ends.
![The confirmation hearing from Kevin Warsh, Trump’s pick to be Powell’s potential successor is scheduled for next Tuesday [File: Kent Nishimura/Reuters]](/wp-content/uploads/2026/04/2025-07-24T214447Z_34146845_RC28TFAVNX5J_RTRMADP_3_USA-TRUMP-FED-1776262869.jpg?resize=770%2C513&quality=80)
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EXPLAINER
Iran war: What’s the Jones Act, and why has Trump suspended it for 60 days?
The move allows foreign-flagged vessels to transport goods between US ports for the next 60 days.
EXPLAINER
Why aren’t gold prices rising, despite Iran war uncertainty?
Gold holds steady despite war and rising oil prices, as recent volatility and a strong dollar reduce its appeal.
From: This is America
Oil price shock raises GOP political fears
From Washington, war with Iran drives gas up stoking midterm anxiety amid high living costs.
Published On 16 Mar 2026
How will the war on Iran impact the US economy?
Outcomes depend on how quickly oil tankers can return to the Strait of Hormuz, experts said.
Oil prices swing wildly amid mixed messages over Iran war
Crude oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of Hormuz.
US job market stalls, unemployment rate rises before Fed decision
The healthcare sector was hit the hardest , while tariff-exposed sectors remained stagnant .
![US markets took a hit on the heels on the jobs report with all the major indices in the red [File: Elizabeth Frantz/Reuters]](/wp-content/uploads/2026/03/2023-04-07T222935Z_1964413332_RC2U90A8FVHS_RTRMADP_3_USA-ECONOMY-JOBS-1772813630.jpg?resize=770%2C513&quality=80)
EXPLAINER
Iran-US tensions: What would blocking Strait of Hormuz mean for oil, LNG?
More than $500bn in oil and gas flows through waterway annually, leaving the global economy exposed to disruptions.
In Argentina, locals are taking loans to buy food
Argentinians are taking on loans, selling their belongings, and living on credit cards to pay for basics including food.
Struggling to get by: Behind the US underemployment crisis
Trump’s tariffs, heightened healthcare and housing costs, and a stagnating jobs market leave more workers struggling.
![As layoffs surge job openings stall labour turnover stalls Americans who aren't making enough to meet their cost of living struggle to find new or additional work [File: Brian Snyder/Reuters]](/wp-content/uploads/2026/02/2025-08-12T180449Z_1884361201_RC2Q5GAJQIPP_RTRMADP_3_USA-ECONOMY-1770828249.jpg?resize=770%2C513&quality=80)
CBO: US Federal deficits and debt to worsen over next decade
‘One Big Beautiful Bill Act’, higher tariffs and immigration crackdown are factored into the report.
