Preemptive War, Permanent Emergency: The Real Cost of Trump’s Iran Strike

Most Americans are not buying the White House’s narrative that the war on Iran is making the world a safer place.  A poll released by Fox News on Wednesday found that 51% of Americans believe they are “less safe” because of the US and Israeli war against Iran. Only three in ten Americans thought the […]

401(k) Hardship Withdrawals Hit Record High The AI bubble and data center buildout have helped catapult equity markets to new highs (pre-Middle East conflict), minting a record number of 401(k) millionaires. However, beneath the surface, hardship withdrawals from 401(k) plans have also climbed to a record, reinforcing the view that the K-shaped economy is becoming more entrenched. Vanguard's How America Saves 2025 report shows that hardship withdrawal activity "increased to a new high" of 6% in 2025, up from 4.8% in 2024 and about 2% before the pandemic. The increase marks the...

Warsh wouldn't be offered the job if he were a departure from the usual model of Fed chairs. He'll inflate plenty, especially when recession hits.