— Geopolitical risks escalated as Israel and Iran traded deadly aerial attacks; the conflict so far has been contained to the two nations, allowing oil prices to plateau after spiking 7%.
— The U.S. budget deficit climbed to $316 billion in May 2025 but is 9% lower than a year ago; imports tariffs brought in $23 billion, up 59% from a year ago.
— The U.S. Consumer Price Index rose 0.1% in May, putting the annualized rate of inflation at 2.4%; without food and energy, prices are up 2.8% annualized.
— Global economic growth will slow to just 2.3% in 2025, per the latest World Bank forecast, the lowest since 2008; the U.S. is forecast to grow 1.4% and the Eurozone 0.7%.
— Regulation of greenhouse gas emissions by power plants that rely on oil, gas and coal will lapse under new approach by the U.S. Environmental Protection Agency.
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