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Real-time News
Iran’s chief negotiator warned that economic pressure is the main threat.On May 7th, local time, US President Trump stated in a speech on May 6th that the current conflict with Iran is a "small-scale conflict," and that the US is "making very good progress." Trump said that the US operation in Iran is "going very smoothly," and that Iran "wants a deal, wants to negotiate." He emphasized that the US will not allow Iran to possess nuclear weapons and will continue to push for an agreement that "satisfies the United States." On the military front, Trump described the US blockade against Iran as "extremely strong," and stated that Iran "can hardly do anything in or out." He also stated that the US has "complete control of the situation." Trump further warned that if Iran does not accept the agreement, it will ultimately be forced to agree to the relevant conditions.On May 7, the U.S. Central Command posted on social media that an empty Iranian oil tanker attempted to break through a U.S. blockade to reach an Iranian port in the Gulf of Oman. A U.S. carrier-based fighter jet damaged the ships rudder with its cannon, preventing the vessel from reaching Iran.US President Trump: The United States is far ahead in the field of space.On May 7th, Chicago Federal Reserve President John Goolsby warned against instinctively lowering interest rates due to faster productivity growth, as this phenomenon can sometimes push up inflation. In prepared remarks delivered before a panel discussion at the Milken Institute Global Conference on Wednesday, Goolsby stated that the Feds response to faster productivity growth "depends largely on whether productivity growth is unexpected or anticipated." He explained that in the first case, inflation might be contained, allowing for lower interest rates. In the latter case, the additional investment and spending resulting from productivity growth could push up inflation, necessitating higher interest rates. Furthermore, he emphasized the need to be wary of consumption and investment driven by expectations of future growth. "The more hype there is, the greater the need to raise rates to prevent overheating," he said.
