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Something will cause inflation to go up this year, but it’s not oil

It’s often said that the inflation of the 1970s and ’80s in the U.S. and elsewhere was caused by the two oil crises of 1973-74 and 1979-80. Not so.

By Steve H. Hanke and John GreenwoodMarch 9, 2026
Stocks stage massive upside reversal as oil plunges after Trump says Iran war could be over soon
By Eva RoytburgMarch 9, 2026
iran
U.S. intel assessment: Iran regime change was unlikely in either short or long war, sources say
By Michelle L. Price, Mary Clare Jalonick and The Associated PressMarch 9, 2026
Like Trump, Iran’s new supreme leader is a real estate mogul, with a house on ‘Billionaires’ Row,’ a villa in Dubai, and upscale European hotels
By Jason MaMarch 9, 2026
three men speak on conference stage
Dubai’s signature Token2049 crypto event set to go forward even as other conferences hit pause amid growing conflict
By Carlos GarciaMarch 9, 2026
A plume of smoke rises from the port of Jebel Ali following a reported Iranian strike in Dubai on March 1, 2026.
Iran’s attacks on Amazon data centers in UAE, Bahrain signal a new kind of war as AI plays an increasingly strategic role, analysts say
By Jeremy KahnMarch 9, 2026
Latest Stories
AINobel laureate Joseph Stiglitz warns AI’s hunger for internet comments could degrade the world’s ‘information ecosystem’
By Catherina GioinoMarch 9, 2026
A woman in a red coat holds up a sign that says, “Shouldn’t hurt to be a nurse.”
EconomyHealth care has been propping up a shaky labor market. For the first time in over four years, the sector shed thousands of jobs
By Sasha RogelbergMarch 9, 2026
Real Madrid player Jude Bellingham pours water on his face during a break
Arts & EntertainmentThe 2026 World Cup will bring a uniquely American sports tradition to the beautiful game: Mid-match ad breaks
By Tristan BoveMarch 9, 2026
People wait outside a building
AIAI layoffs are coming. The problem may be compounded because nearly 75% of people don’t apply for unemployment benefits
By Jacqueline MunisMarch 9, 2026
CryptoStrategy buys $1.3 billion of Bitcoin using mostly common stock
By Melos Ambaye and BloombergMarch 9, 2026
Personal FinanceHow to invest in gold: 6 ways to buy this precious metal
By Joseph HostetlerMarch 9, 2026
Paris Hilton poses on the red carpet.
SuccessAfter losing her Malibu home, Paris Hilton is raising $1 million to get women-owned businesses back on their feet
By Gabriela Aoun Angueira and The Associated PressMarch 9, 2026
Photo of Donald Trump
EnergyTrump promised to fill America’s oil reserves ‘right to the top.’ A year later, oil has exceeded $100 and they’re still less than 60% full
By Tristan BoveMarch 9, 2026
More Middle EastPage 14 of 21
Heathrow airport
FinanceLondon’s Heathrow airport turns first profit since the pandemic
By Charlotte Ryan and BloombergFebruary 21, 2024
Israeli soldiers standing outside a grocery store
PoliticsIsrael’s economy sinks 20% as the war decimates consumer spending and real estate investments
By Paolo ConfinoFebruary 20, 2024
Dubai
SuccessThe UAE’s policy overhaul is paying off big time for Dubai with ‘a surge in demand and almost everyone is back in the office’
By Zainab Fattah and BloombergFebruary 19, 2024
Macron
PoliticsMacron: Recognizing a Palestinian state ‘not a taboo for France’
By The Associated PressFebruary 17, 2024
Elon Musk
TechElon Musk will bring internet to Israel, parts of Gaza after agreeing to ringfence Hamas access to Starlink
By Marissa Newman and BloombergFebruary 14, 2024
Lloyd Austin
PoliticsAmerica hits Iran and its affiliates with dozens of strikes on sites in Iraq, Syria after 3 U.S. troops die in Jordan
By Tara Copp, Lolita C. Baldor, Abdulrahman Zeyad and The Associated PressFebruary 3, 2024
LeadershipThree U.S. troops killed in drone attack tied to Iran-backed militia, Biden vows to ‘hold all those responsible to account’
By Zeke Miller and The Associated PressJanuary 28, 2024
PoliticsHouthis attack U.S. warship, escalating Middle East crisis: ‘They’re now finally calling a spade a spade’
By Jon Gambrell, Tara Copp and The Associated PressJanuary 27, 2024
Knesset
PoliticsIsraeli parliament stormed by dozens of family members of Hamas hostages, demanding deal to secure release
By Melanie Lidman, Wafaa Shurafa and The Associated PressJanuary 22, 2024
Hadja Lahbib
PoliticsEU diplomat says Palestinian state is ‘only way to establish peace in a durable way in the region’
By Lorne Cook and The Associated PressJanuary 22, 2024
Prince Faisal bin Farhan
PoliticsSaudi Arabia won’t normalize relations with Israel absent path to Palestinian state, top diplomat says
By Melanie Lidman, Wafaa Shurafa and The Associated PressJanuary 22, 2024
Houthi
PoliticsU.S. military bombs Houthi sites in Yemen for a 4th time as attacks on Red Sea shipping persist
By Tara Copp, Lolita C. Baldor and The Associated PressJanuary 18, 2024
Rishi Sunak, Joe Biden
PoliticsAmerican, British militaries bomb 16 sites in Yemen, targeting Houthis who have disrupted international trade in Red Sea
By Lolita C. Baldor, Tara Copp and The Associated PressJanuary 12, 2024
Red Sea shipping
PoliticsThe Houthis’ Red Sea attacks could take a $30 billion bite out of Indian exports, think tank projects
By Shruti Srivastava and BloombergJanuary 8, 2024
Brad Cooper
PoliticsAmerica gave the Houthis a ‘final warning’ in the Red Sea, and they responded with a sea drone to attack more ships
By Tara Copp and The Associated PressJanuary 4, 2024
Red Sea
PoliticsThe Red Sea attacks are adding 10 extra days—and inflation—to 15% of all international trade, American ambassador tells UN
By Edith M. Lederer and The Associated PressJanuary 4, 2024
Red Sea attacks
PoliticsU.S. leads group of 12 countries warning the Red Sea shipping attacks ‘threaten lives, the global economy, and free flow of commerce’
By Zeke Miller, Aamer Madhani and The Associated PressJanuary 4, 2024
Lloyd Austin
PoliticsAmerican aircraft carrier to exit Red Sea amid flurry of attacks on commercial vessels in crucial shipping area
By Tara Copp and The Associated PressJanuary 2, 2024
FinanceU.S. forces kill Houthi rebels attacking Maersk container ship in Red Sea, Lloyd Austin calls for ‘collective action’ 
By Rebecca Santana and The Associated PressDecember 31, 2023
NewslettersBillionaire investor Bill Ackman said diversity policies have ignored Jews. He’s not entirely wrong
By Ruth UmohNovember 22, 2023
CommentaryJared Kushner, Arab and Israeli officials outline day-after solutions for the first time since the Oct. 7 attacks at Yale’s Middle East Peace Dialogue
By Jeffrey Sonnenfeld and Steven TianNovember 20, 2023
Paris
PoliticsRich yanks cancel Paris trip plans amid ‘worry that many people abroad are not just anti-Jewish but also anti-American’
By Angelina Rascouet and BloombergNovember 18, 2023
Sheriff's Office
PoliticsCollege professor arrested in connection with death of Jewish demonstrator in Southern California
By John Antczak, Julie Watson and The Associated PressNovember 16, 2023
Displaced Palestinian chidren
PoliticsVastly diminished news media scrambles to verify, report on war videos blanketing social media
By David Bauder and The Associated PressNovember 13, 2023
Politics‘I think we need a pause’: Biden calls for humanitarian measures in Israel-Hamas war after protester confronts him on cease-fire
By Chris Megerian, Aamer Madhani and The Associated PressNovember 2, 2023
World Bank
FinanceThe World Bank sees oil exploding to $157 per barrel in the worst-case scenario from the Israel-Hamas war
By Fatima Hussein and The Associated PressOctober 30, 2023
Politics‘This is not cancel culture’: Ron DeSantis defends directive to ban pro-Palestinian group at Florida universities
By Steve MollmanOctober 29, 2023
PoliticsAfter Israel-Hamas war Mideast leaders must consider two-state solution, says Biden: ‘There’s no going back to the status quo’
By Aamer Madhani, Chris Megerian, Will Weissert, Seung Min Kim and The Associated PressOctober 29, 2023
TechElon Musk says SpaceX will offer Starlink in Gaza to international aid groups: ‘A communications blackout does seem questionable’
By Steve MollmanOctober 28, 2023
Kaiser Aslam
PoliticsFaith leaders on campus are being pushed to their limit: ‘Muslim students are walking around scared, just like the Jewish students are walking around scared’
By Mariam Fam and The Associated PressOctober 28, 2023
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