Economy

The PPI data reinforces Federal Reserve officials' views that inflation should remain their top concern in the face of the war-driven surge in oil prices.

Vote on chairmanship may happen tomorrow.

The figures show how the impact of the Iran war is hitting the U.S. economy as energy costs surge.

The labor market seems to be holding up despite rising energy costs, reducing pressure on the Fed to lower interest rates.

"I think [the Iranian] regime can last not just months; I think this regime can last under blockade for years."

Since the pandemic, Americans have continued to spend despite high inflation, thwarting recession fears. But rising fuel costs might be too much to overcome.