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How the Iran war will transform America’s military role
Washington will come to regret its stalemate with Beijing
In what feels like one of the few genuinely radical decisions of his premiership, Keir Starmer has announced an almost complete ban on social media for the under 16s, starting next spring. Messaging apps will not be included, but YouTube (ie “television”) will. Does the ban make sense? Will it actually happen? And is Starmer now thinking about legacy projects at this febrile moment of his leadership? We speak to the AI minister Kanishka Narayan. Later Jess Asato MP found herself undressed by ...
The 1970s oil-shock playbook needs an update: The inflation costs remain, but the employment risks appear far smaller than they did 50 years ago. Why it matters: As the Iran war continues, there are early signs of renewed strength in the labor market. If energy disruptions pose less of a risk to jobs, the challenge for central banks shifts from managing stagflation risks to guarding against renewed price pressures. That's the takeaway from new Federal Reserve Bank of Boston research that finds an oil shock the size of what the Iran war has produced would push inflation materially higher while having essentially no effect on national employment. What they're saying: "The U.S. economy's vulnerability to oil shocks has not been eliminated, but rather reconfigured," economists wrote in the report. "Oil shocks may now pose less of a challenge for monetary policy, allowing policymakers to focus more on the greater risk to inflation." Driving the news: The researchers estimate that the U.S.-Iran conflict generated a 33% oil price shock — a magnitude that is historically significant, though not unprecedented. The U.S. economy is now structured differently than past energy crises, allowing it to absorb a shock of that magnitude with far less damage to national employment.But with a smaller hit to growth and employment, there is less downward pressure on prices to counteract rising energy costs.The Boston Fed estimates that if an oil disruption like today's hit during the mid-1970s, it would lift the Personal Consumption Expenditures Price Index by 2.2 percentage points and reduce national employment by 1.8 percentage point. What to watch: The oil shock is estimated to create relative winners and losers across the country, with oil-producing states faring better than oil-importing regions — differences that can leave an economic mark for as long as two years after the initial hit. The Boston Fed estimates that employment growth in Texas would be roughly 1.7 percentage point h
On her new album, “You Seem Pretty Sad for a Girl So in Love,” the singer inches away from frisky pop-punk and toward the velvety yearning of New Wave
On “30 Rock,” she pioneered the kind of heteroskepticism that’s now more prevalent than ever. With “The Four Seasons,” she’s exploring a more hopeful counternarrative
President Abbas has issued a decree calling for presidential elections in early 2027 and for legislative elections to be held in November of this year, official Palestinian news agency Wafa reported, without saying if he would run
This article explores the overlooked aspects of the Iran crisis, delving into Henry Nowak's insights and examining Nigel Farage's provocative political strategies.
Changing the Calculus of Power During morning rush hour in Chicago last week, ICE agents crashed into a bystander’s car while trying to detain a Venezuelan migrant. After tackling the screaming, shirtless man to the ground and handcuffing him, agents tased him, according to a local reporter and other witnesses on the scene. Then they used the taser and pepper spray to threaten bystanders who had gathered and started blowing whistles. In the chaos, an agent dropped a loaded magazine in the str...