Business

Budget deficit hits  trillion in first five months of fiscal year: CBO

The federal budget deficit topped $1 trillion in the first five months of fiscal year 2026, as the U.S. government is on pace to record another massive deficit. The nonpartisan Congressional Budget Office (CBO) reported that the federal budget deficit was just over $1 trillion through five months of fiscal year 2026,…

Fed officials closely monitor Iran conflict for potential inflation impact

Federal Reserve policymakers are monitoring the conflict with Iran for its potential impact on inflation and consumer prices, as energy prices have jumped since the outbreak of hostilities. Oil prices briefly surged over $100 a barrel amid fears of supply disruptions caused by the conflict with Iran, which threatens to stem…

LARRY KUDLOW: Hormuz will not stop history

For those wondering about the state of play for oil prices, gasoline, and stocks, here’s what President Trump said this afternoon: “I think the war is very complete, pretty much. They have no navy, no communications, they’ve got no Air Force.” And that America is “very far” ahead of his…

Ford recalls 1.74 million vehicles due to rearview camera blackouts, issues

Ford is recalling nearly 1.74 million vehicles in the U.S. due to software problems that can affect rearview camera displays, according to notices published this week by the National Highway Traffic Safety Administration (NHTSA). One recall covers 849,310 2021–2026 Ford Broncos and 2021–2024 Ford Edges, which may experience overheating in…

Will tapping oil reserves curb soaring gas prices?

The ongoing conflict in the Middle East has sent oil prices soaring and has prompted G7 leaders to consider the potential release of emergency oil reserves to provide relief to consumers facing higher gasoline prices. Gas prices have risen in response to the rapid increase in oil prices, with the national…

IRS unveils proposed regulations for new Trump Accounts savings program

The IRS and Treasury Department on Friday put forward new proposed rules and processes that cover the implementation of Trump Accounts for parents and guardians who want to use the savings accounts for their children. Trump Accounts were created under the One Big Beautiful Bill Act that was enacted last year…