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Economy

What to know about May Day demonstrations as workers face rising energy costs due to Iran war

By SYLVIE CORBET
May 01, 2026 6:47 am - Activists worldwide gathered for May Day rallies and street protests Friday, calling for peace, higher wages and better working conditions as many workers grapple with rising energy costs and shrinking purchasing power tied to the Iran war.
U.S. economy grew 2% from January-March, recovering from federal shutdown; Iran war clouds outlook

By PAUL WISEMAN
Apr 30, 2026 8:27 am - WASHINGTON — The U.S. economy accelerated at the start of 2026, expanding at a modest 2% pace from January through March after recovering from last fall’s 43-day federal ...
Gas prices hit $5 across the suburbs; key inflation gauge jumps to highest level in 3 years

By CHRISTOPHER RUGABER
Apr 30, 2026 7:57 am - A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve.
Powell plans to stay on at Fed after his term as chair ends, citing legal actions by administration

By CHRISTOPHER RUGABER
Apr 29, 2026 1:11 pm - Jerome Powell plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation's central bank at risk.
Trump pursues new import taxes to replace the tariffs the Supreme Court rejected

By PAUL WISEMAN
Apr 28, 2026 3:53 pm - When the Supreme Court killed his favorite tariffs in February, President Donald Trump promptly rolled out temporary import taxes to replace them. But those stopgap levies expire in less than three months. Now the administration is scrambling to put more durable tariffs in place.
US consumer confidence inches higher in April despite Iran war, soaring gasoline prices

By MATT OTT
Apr 28, 2026 10:16 am - U.S. consumer confidence rose modestly in April despite growing anxiety over soaring energy prices brought on by the war in Iran.
Senate panel schedules vote to advance Warsh as Powell probe dropped

By Andrew Ackerman
Apr 25, 2026 5:30 pm - A Senate committee moved late Friday to advance Kevin Warsh’s nomination to lead the Federal Reserve, scheduling a vote for Wednesday after U.S. Attorney Jeanine Pirro said she was closing a criminal investigation into Fed Chair Jerome H. Powell, potentially removing the main obstacle blocking Warsh’s path to confirmation.
Lake County Partners’ annual gathering marks community impact and regional momentum

Daily Herald report
Apr 25, 2026 12:30 pm - Hundreds of local business and civic leaders came together for Lake County Partners’ 2026 “Big Event” recently held at the Lincolnshire Marriott Resort.
US consumer sentiment falls to record low on inflation

By Jarrell Dillard and Maria Paula Mijares Torres
Apr 24, 2026 8:41 pm - US consumer sentiment fell in April from a month earlier to a record low, reflecting worries around the economic fallout from the Iran war.
Illinois launches online resources for households on federal food assistance

By JENNA SCHWEIKERT
Apr 24, 2026 4:26 pm - Illinois launched two websites last week that share various work, training and volunteer opportunities that meet federal food assistance work requirements. The sites are free and available to all but designed specifically for Illinoisans who may lose federal food assistance due to recent program changes.

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