Anonymousabout 2 hours ago
U.S. consumer prices rose 3.8% year-over-year in April 2026, the highest rate since May 2023, driven primarily by a 28.4% surge in gasoline costs following Iran's closure of the Strait of Hormuz — the largest oil supply disruption in history. The Federal Reserve is frozen between its 2% inflation target and the risk of choking an economy already slowing from the conflict, while low-income households bear a disproportionate burden and Congress debates windfall profit taxes on oil companies posting record earnings.