US Bombs Somalia for 35th Time This Year

US Conducts New Iran Strikes Along Hormuz Corridor, State Media Cites Return Fire On 3 US Destroyers Summary US military attacks Iran locations on southern coast, and allegations of UAE involvement; Explosions rock Abu Dhabi. CENTCOM says intercepted Iranian counterattacks. Iran says US violated ceasefire after Centcom targeted Iranian facilities responsible for attacks; US says ceasefire not violated despite striking Iranian oil tanker and targets in Bandar Abbas and Qeshm. The Trump admin mulls restarting operation to guide ships through the Strait of Hormuz with naval and air support as early as this...

Warsh Tells Congress Fed Has "No Tolerance For Elevated Inflation": Watch His Testimony Live Fed Chair Warsh (voter) will deliver his first semi-annual testimony as Fed Chair to the House. Warsh’ text was e released at 08:30EDT (link here) and he is scheduled to begin his testimony at 10:00EDT. In his prepared remarks, Warsh said policymakers at the central bank have no tolerance for high inflation, reiterating a vow to tame price growth that has been elevated for five years.  “The members of our committee have no tolerance for persistently elevated inflation,” Warsh...

Cuba Expands Market Reforms As Socialist Economy Buckles Under Trump Pressure Granma, the official newspaper of the Communist Party of Cuba's Central Committee, reported Wednesday that Havana is easing restrictions on private businesses and self-employed workers as it attempts to stabilize an economy battered by decades of failed socialist policies and renewed pressure from the Trump administration. "The updated regulations eliminate restrictions, broaden the scope of business activities for micro, small, and medium-sized enterprises (MSMEs) and cooperatives, and incorporate new opportunities in commerce, transport, industry, and services," Granma wrote in...