Louisiana Has The Highest Car Ownership Burden In America

Senate Parliamentarian Rejects White House Ballroom Funding In Reconciliation Bill Authored by Joseph Lord via The Epoch Times, The Senate’s nonpartisan referee has rejected a bid by Republicans to fund $1 billion for the White House ballroom expansion and other White House security upgrades. According to Senate Parliamentarian Elizabeth MacDonough, the $1 billion proposal breaks the rules of the reconciliation process. As parliamentarian, MacDonough’s go-ahead is traditionally required to approve individual items passed under the partisan process. Republicans are seeking to use the reconciliation process—which is not subject to the filibuster—to pass $72...

Iran Oil Exports Through Hormuz Hit Wartime High While other countries line up on either side of Hormuz, hoping for clarity whether they actually can cross this time, Iran isn’t wasting any time moving its oil out of the Gulf via the Strait of Hormuz after the US lifted the naval blockade outside the chokepoint and the U.S. and Iran discuss a framework on a lasting peace deal. Even as Western shippers and insurers remain wary of the conflicting signals about how open the Strait of Hormuz really is - after...

Core Producer Prices Cooler Than Expected In April, Goods Costs Jump Most On Record After yesterday's mixed bag from consumer prices (headline in-line but core cooler than expected and goods deflating), US Producer Prices were expected to keep accelerating higher (on a YoY basis) in May and they did... by more than expected. Headline PPI rose 1.1% MoM in May (much hotter than the 0.7% MoM exp) but April's 1.4% MoM rise was revised down to +1.1% MoM. This left producer prices up 6.5% YoY (vs 6.4% exp and up from...