Six Months of War Have Reordered the Global Economy
Crude near $92, diesel at four-year highs and central banks turning hawkish: the Middle East conflict has become the dominant variable in the world economy.
Economy
Markets Price a Fed Hike as Inflation Refuses to Come Down
Futures now imply roughly a two-in-three chance the Federal Reserve raises rates this month, a reversal of the easing cycle investors spent the year expecting.
A Strong Labour Market Has Become the Fed's Problem
Employers keep adding jobs and wages are outpacing prices. In the current policy regime, that is an argument for tighter money rather than a cause for celebration.
The ECB Prepares to Tighten Into an Energy Shock It Cannot Control
A move to 2.75% is treated as near-certain, with markets attaching a 75% chance of 3.0% by December — even though the inflation is coming from imported fuel.
Growth Is Diverging, and the Reformers Are Pulling Ahead
Advanced economies face slow expansion while a handful of emerging markets grow faster on the back of domestic policy. The gap is widening.
Mortgage Rates Rise to One-Year High Amid War, Inflation
A 'for sale' sign is seen on a house in Monterey Park, California, on September 17, 2025. FREDERIC J. BROWN/AFP hide caption toggle caption FREDERIC J. BROWN/AFP Sign up for the Planet Money newsletter. The world is confusing.
Kevin Warsh: Can the Fed Stay Independent?
US President Donald Trump will hold a swearing‑in ceremony on Friday for the new Federal Reserve chair, Kevin Warsh — an unusual step, since Fed chairs are not normally sworn in at the White House, and presidents usually don't attend, given that the Fed is meant to be politically independent.
The missing economically stable men in America's marriage market
Rubberball/Mike Kemp/Getty Images/Brand X It's a bit weird to think of dating or marriage as a market — but this is a newsletter that tries to make sense of the world through economics. And, like any market, shifts in supply and demand can reshape romantic outcomes in pretty profound ways.
Bolivia miners clash with police as protesters demand Paz resign
Bolivian miners clashed with the police during a march on Thursday to call for the resignation of President Rodrigo Paz, with some setting off dynamite. Blasting small charges of dynamite has become increasingly common in the second week of the nationwide unrest.
Mario Draghi: Charlemagne Prize Winner and Europe’s Stabilizer
The former head of the European Central Bank Mario Draghi was presented with the prestigious Charlemagne Prize at a ceremony in Aachen, western Germany, on May 14. "You took charge of the euro during a time of crisis, and you stabilized the euro and the eurozone," Chancellor Friedrich Merz said during his speech honoring Draghi.
Inflation Climbs to Highest Level Since 2023
Inflation jumps to its highest level since 2023. Here are 3 things costing a lot more Audio will be available later today. Gasoline prices have jumped about $1.50 a gallon since the U.S. launched its war with Iran. Rising fuel prices are a big driver of overall inflation.
Inside the Clip Economy: How Short Videos Took Over
When he wasn't eking out a living with part-time work, 25-year-old Emrah Bayraktar would take out his phone and edit long interviews of influencers into snippets and post them. "And then one random night, I saw a notification saying that I earned $12," said Bayraktar.