Consumer prices rose 4.2% in May from a year earlier, up from 3.8% in April. Inflation is well above the Federal Reserveās 2% target. Kevin Warsh will preside over his first policy meeting next week. He is expected to keep the key interest rate unchanged.
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Elon Musk has become the world's first trillionaire. Consumer prices rose 4.2% in May from a year earlier, up from 3.8% in April and the third straight increase. Producer prices rose 1.1% from April and 4.9% from May 2025.
This week Richard talks to Laurence Jurdem, author of 41: George H. W. Bush and the End of the American Establishment (Bombardier). Bookstack listeners can take advantage of a 20% offer for paid Persuasion membership with access to special columns and bonus Good Fight with Yascha Mounk podcast content.
Consumer prices rose 0.5% month-over-month in May, while producer prices increased 1.1% in May and 6.5%. The most recent payroll report reflected 172k added jobs and an unemployment rate at 4.3%. Sleep Number Corp. filed chapter 11 bankruptcy on June 12, 2026. Colin Adams was added to the board of directors on June 4th.
As of 6 am on Monday, June 15, this morningās key news in my view is that the political economy of housing, climate and poverty is the most important topic of the day. This article is only published for paying subscribers and includes front pages and cartoons.
The Dow Jones Industrial Average closed at 51,202.27, gaining 0.66% for the week. The S&P 500 ended at 7,431.46, up 0.65%. The Nasdaq Composite added 0.70% to close at 25,888.84. The primary focus this week will be the Federal Reserveās June policy meeting. Markets expect the federal funds rate to remain unchanged at 3.75%.
A "super El NiƱo" climate pattern is expected to develop this year, which could disrupt global weather systems and place severe pressure on international food supply chains. The United States relies heavily on foreign imports for its food and beverage supply, particularly fresh fruits and vegetables. The leading U.S. agricultural imports are processed food and beverages, and tropical products, with Mexico, Canada, European Union, and China being the top trade partners. Rice is the most vulnerable imported product, followed by coffee, cocoa, palm oil, and sugar.
Indonesia's economic engagement with the Arab world and Turkey is changing. Indonesia is focusing on high-tech industrial supply chains, advancing the green economy, and expanding high-value digital services. The United Arab Emirates remains the spearhead of Indonesiaās economic integration in the Gulf. Egypt remains a vital market for Indonesian crude palm oil. Turkey is being positioned toward an ambitious trade of USD 10 billion by 2028.