Iran Hails Deadly Cluster Bomb Attack On Central Israel: 'First Wave Under New Ayatollah'

Inflation Fears Fade As War Drags UMich Sentiment Lower After rebounding solidly in January and February, expectations were for a modest decline in UMich Sentiment in preliminary March data and analysts were right but the 55.5 print (from 56.6 prior) was better than the 54.8 expected. Current Conditions actually improved, surprising to the upside (57.8 vs 56.6 prior vs 54.9 exp) Expectations fell more than expected (54.1 vs 56.6 prior vs 54.5 exp) Current Conditions are at their highest level since October while expectations are at their lowest since November. Source: Bloomberg Interviews for this...

The Fed Is Failing Its Mandate, But It Could Change Soon Authored by Daniel Lacalle, The Federal Reserve’s legal mandate is clear. It must focus on stable prices and maximum employment. In the past five years, the Fed has failed on both. Inflation remains materially above the 2 percent target, reaching a decade-high 25% cumulative inflation in the 2021-2025 period, while restrictive monetary conditions have been limited to rate hikes, which weigh most heavily on the small and medium-sized firms that generate most of net employment growth. This failure was not merely...