A surprise from the monthslong closure of the Strait of Hormuz is that the global economy didn’t suffer a more severe shock. Here’s why.

Abundant reserves, alternative supplies and the AI boom helped mitigate the economic harm. Source link

U.S. Retailers’ Sales Growth Accelerated Last Month

Sales growth rose more than expected for U.S. retailers in May, as consumers continued to make purchases even as gasoline

Annual inflation was unchanged at 2.8% in May, defying expectations of an increase and reinforcing the view that the BOE

South Korea is likely to see elevated inflation for a prolonged period as higher energy costs spread into the broader

Inflation was unchanged, though higher energy costs continued to drive price pressures, ahead of a BOE meeting at which policymakers

China is doubling down on building more resilient financial infrastructure to shield its economy from external shocks. Source link

While the Middle East conflict reduced the volume of oil flowing through the Strait of Hormuz, the resulting surge in

Kevin Warsh walks into his first meeting as Federal Reserve chairman this week in an awkward spot. He argued for

Prices on U.S. energy imports rose at a slower rate last month as the global economy adjusted to the effects

Housing starts fell 15.4% in May to 1.177 million, significantly below economists’ expectations of a 2.4% decline. Source link