Economy

Iranian currency hits all-time low amid US blockade

The Iranian rial hit a new record low on Wednesday as the country’s economy enters its most dire straits yet, amid a U.S. blockade of the Strait of Hormuz.

Why Gen Z feels priced out of the American dream

The milestones associated with adulthood — buying a home, paying off student debt, and starting a family — have become dramatically more difficult to achieve. The issue is not that younger generations reject responsibility or lack ambition. Rather, it is a rational concern about affordability, specifically economic costs and barriers that Generation Z did not create.

Gas prices: National average soars to $4.30 per gallon, California hits $6 per gallon

The national average for regular gas continued to rise on Thursday, reaching a new yearly high of $4.30 per gallon, according to AAA.

Even before the Iran oil shock, US economy was under stress

In the absence of a direct military threat against the United States, nothing should concentrate a president’s mind as much as the economy, especially when signs are pointing to possible “stagflation” if things continue as they are. Previous presidents understood this. We can’t be sure about today’s provocateur in chief.

GDP growth rebounded to 2% rate in first quarter

Gross domestic product grew at a 2% annual rate in the first quarter, adjusted for inflation, the Bureau of Economic Analysis reported in a preliminary reading Thursday morning.

The UAE’s OPEC departure is more about politics than economics

The threat posed by Iran should be drawing Gulf leaders closer together. Instead, the United Arab Emirates’ departure from the OPEC+ oil cartel only highlights the disunity of the Sunni Arab monarchies. Vast wealth does not guarantee regional cohesion.