Iran Offers to Open Strait of Hormuz If US Lifts Blockade, Ends War

Rep. Ro Khanna (D-CA) said on Saturday that President Trump’s renewed strikes on Iran are a violation of the War Powers Resolution that has been passed by both the House and the Senate. “These strikes are a blatant violation of the War Powers Resolution that we passed,” Khanna wrote on X. “Trump must stop this […]

President Donald Trump said he is moving closer to ordering a massive attack on Iran. He also said the US does not currently need Israel’s assistance to wage the war.  “I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it,” the President […]

75% Of US GDP Growth In The First Quarter Was Due To AI On the surface, today's final revision (aka 3rd estimate) of the US Q1 GDP print was unremarkable: Real GDP grew 2.1% annualized in the first quarter, a reversal of last month's downward revision of 1.6%, but back to where the original print was when it was reported in April, when the BEA reported 2.0% growth.  The print reflected a downward revision to imports, which are a subtraction in the calculation of GDP, that was partly offset by a...