Russian President Vladimir Putin and U.S. President Donald Trump have held a lengthy phone call to discuss the escalating situation in the Middle East and Ukraine peace talks.

President Donald Trump has repeatedly demanded the Federal Reserve slash interest rates. But Fed officials have stood pat, waiting to see how his administration’s sweeping policy changes affect the economy first.

AMANEY A. JAMAL is Co-Founder and Co-Principal Investigator at Arab Barometer, Dean of the Princeton School of Public and International Affairs, and Edwards S. Sanford Professor of Politics and International Affairs at Princeton University.

Israel’s attack on Iran has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households.

Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.

U.S. ultra-low sulfur diesel futures hit the highest level since February, outpacing gains in oil and gasoline as analysts warned that diesel supply is the most exposed to the conflict in the Middle East.

The UK Chancellor Rachel Reeves says the government will not ‘take anything off the table’ in response to the threat of rising energy costs

Jon Faust, who advised three Fed chairs, doesn’t see an interest-rate cut until December — an even then, the odds of a move are just 50/50.