Right now, the future is difficult to see, and the risks to both sides of our mandate have increased. -NY Fed President John Williams, 5/4/26 Chevron Chairman and CEO Mike Wirth said on Monday that ​physical shortages in oil supply would begin appearing around ‌the world because of the closure of the Strait of Hormuz, through which 20% of global crude supply passes.  Economies will begin shrinking, first in Asia, as ​demand adjusts to reduced supply

The Buffett Indicator is the ratio of total US stock market value divided by GDP. Named after Warren Buffett, who called the ratio “the best single measure of where valuations stand at any given moment.”     -Buffett Indicator Valuation Model, 12/31/25 [The Buffett Indicator] is probably the best single measure of where valuations stand at any given moment. And as you can see, nearly two years ago the ratio rose to an unprecedented level. That should

Fifty days of temporary elevated prices … for 50 years of not having an Iranian regime with a nuclear weapon, the American people, they are beginning to understand, thanks to President Trump, that there is no prosperity without security.     -Treasury Secretary Scott Bessent, NBC’s “Meet the Press”, 3/22/26 When asked about whether the war in Iran would ultimately be good for bad for the US economy, Bessent said, “I think we will look back and