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Federal Reserve projects one rate cut this year, sees limited economic impact from Iran war

By CHRISTOPHER RUGABER
Mar 18, 2026 1:50 pm - Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on economic growth, but they still expect to cut their key rate once in 2026.
US drivers see gas prices jump to their highest level since 2023 as the Iran war drags on

By WYATTE GRANTHAM-PHILIPS
Mar 18, 2026 9:53 am - The Iran war has rattled the global flow of oil, with steeper fuel costs already straining households worldwide. And in the U.S., drivers are now facing the highest prices they've seen at the pump in about two and a half years.
US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

By FATIMA HUSSEIN and REGINA GARCIA CANO
Mar 18, 2026 9:21 am - U.S. companies will be allowed to do business with Venezuela's state-owned oil and gas company after the Treasury Department eased sanctions, with some limitations, on Wednesday as the Trump administration looks for ways to boost world oil supplies during the Iran war.
Strikes hit world’s largest natural gas field in Iran, and Tehran retaliates with more attacks

By JON GAMBRELL, DAVID RISING and SAMY MAGDY
Mar 18, 2026 9:00 am - Israel said Wednesday it killed another top Iranian official, the third in two days, while Iran lashed out with attacks on its Persian Gulf neighbors and Israel, using some of its latest missiles to evade air defenses and killing two people near Tel Aviv.
US producer prices rose by a surprisingly hot 3.4% last month, the most in a year

By PAUL WISEMAN
Mar 18, 2026 8:33 am - The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — rose 0.7% from January, and 3.4% from February 2025. The year-over-year increase was the most since February 2025.
Iran war pushes countries into energy triage as they conserve power and curb soaring prices

By ANTON L. DELGADO and ANIRUDDHA GHOSAL
Mar 17, 2026 6:36 am - The escalating war with Iran is pushing parts of the world into energy triage, forcing governments to choose where to cut demand or absorb costs, while prioritizing dwindling supplies.
Israel says 2 top Iranian officials killed in airstrikes in blow to Tehran leadership

By JON GAMBRELL, DAVID RISING and SAMY MAGDY
Mar 17, 2026 6:30 am - Iran's top security official and the head of the Revolutionary Guard's Basij militia were both killed in overnight strikes in a blow to the country’s leadership, Israel's defense minister said Tuesday, while Tehran defiantly fired new salvos of missiles and drones at its Gulf Arab neighbors and Israel.
Israel steps up campaign in Lebanon, as Iran keeps stranglehold on shipping

By DAVID RISING, BASSEM MROUE and WILL WEISSERT
Mar 16, 2026 7:37 am - The war in the Middle East raged on multiple fronts on Monday, as the U.S. and Israel pummeled military targets in Iran’s capital, Israel stepped up its campaign against Iran-backed militants in Lebanon and Iran retaliated with a drone strike that temporarily shut Dubai’s airport, a crucial hub for travelers.
Trump suggests he may delay China trip, but Bessent says it's not to pressure on Strait of Hormuz

By WILL WEISSERT
Mar 16, 2026 7:22 am - President Donald Trump may delay his China trip due to the Iran war, but Treasury Secretary Scott Bessent said Monday it’s not to pressure Beijing on the Strait of Hormuz.
Potential battery storage facility stirs controversy in McHenry County

By Michelle Meyer
Mar 15, 2026 3:34 pm - Developers eyeing the construction of a battery storage facility near far northwest suburban Prairie Grove say they might come to the village with a formal proposal within the next few months.

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