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Trump demands Powell cut rates as Iran conflict raises energy prices

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Trump demands Powell cut rates as Iran conflict raises energy prices

In what has become a now-familiar refrain, President Donald Trump on Thursday pressed Federal Reserve Chair Jerome Powell to cut interest rates immediately, rather than wait for the next policy meeting.

“Where is the Federal Reserve Chairman, Jerome “Too Late” Powell, today? He should be dropping Interest Rates, IMMEDIATELY, not waiting for the next meeting,” Trump wrote in a Truth Social post using a mocking nickname for Powell. 

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The comments come ahead of the Federal Open Market Committee’s March 17 meeting, when the Fed’s 12-member rate-setting panel will decide whether to change its key interest rate. That benchmark rate helps determine what consumers and businesses pay to borrow money — including for mortgages, car loans and credit cards.

The meeting also comes as the conflict involving Iran has fueled a run-up in energy prices, adding to inflation pressures the Fed is watching closely — and complicating Trump’s pledge to lower costs for Americans.

GAS PRICES SURGE, PINCHING AMERICANS AND HANDING THE GOP A NEW MIDTERM HEADACHE

Customer Jann Gregg of Schenectady pumps gas at the GasWay Xpress Mart.

Oil and gas prices have surged following the depressed flow of tankers through the Strait of Hormuz. (Lori Van Buren/Albany Times Union via Getty Images)

This week, oil prices surged past $100 a barrel for the first time since 2022 as fallout from the U.S.-Israeli conflict with Iran continued to roil global markets and investors priced in the risk of tighter supply. 

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With oil higher, gasoline and diesel prices are rising fast.

Trump’s demand, however, runs up against how the Fed typically operates.

Rate changes are typically made at scheduled meetings. Still, the Fed has cut rates between meetings during crises, most recently in 2020 during the COVID-19 pandemic.

Trump, who nominated Powell to lead the Fed in 2017, has intensified his public campaign in recent months, calling for rates to fall as low as 1% as part of his push to stimulate growth.

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For his part, Powell held off initially on rate cuts as the Fed assessed the economic impact of Trump’s evolving trade agenda. That wait-and-see posture kept the Fed’s benchmark rate at 4.25% to 4.5% for a period. The Fed has since lowered rates, and the target range now stands at 3.50% to 3.75%. But even after rate cuts, Trump has escalated his attacks on Powell and the central bank.

TRUMP VS THE FEDERAL RESERVE: HOW THE CLASH REACHED UNCHARTED TERRITORY

A photo of President Donald Trump walking behind Federal Reserve chairman Jerome Powell at the White House.

President Donald Trump walks behind Jerome Powell of the Federal Reserve during an announcement in the Rose Garden of the White House in Washington, D.C. on Thursday, Nov. 2, 2017. (Olivier Douliery/Bloomberg/Getty Images)

Trump’s renewed demands also sharpen the long-running tension between the White House and an institution designed to operate independently, with Fed officials insisting rate decisions will be driven by economic data, not political pressure.

That tension has now expanded beyond monetary policy. Federal prosecutors have opened a criminal investigation tied to Powell’s prior testimony to Congress about cost overruns on the Fed’s headquarters renovation project.

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Powell, in a rare video statement, called the probe “unprecedented” and described it as another salvo in what he described as Trump’s pressure campaign on the central bank to cut rates. 

POWELL’S BEHIND-THE-SCENES MOVE AFTER TRUMP’S DOJ OPENED ITS CRIMINAL PROBE

The unusually public response followed days of private consultations with advisors and stood out for a Fed chair known for a measured approach.

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The political stakes are heightened by the timing: Powell’s term as chair ends May 15. 

Trump has nominated former Fed governor Kevin Warsh to succeed him, putting the Fed’s next moves and Powell’s final months under even brighter scrutiny.

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European ideas to spice up Perth

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A local urban design enthusiast suggests ways WA could cut building vacancy rates.

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Top 5 Incredible Things to Do in Namibia This Year

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Top 5 Incredible Things to Do in Namibia This Year

Namibia stands as one of Africa’s most underrated destinations, offering dramatic landscapes, unique wildlife encounters, and adventures that rival any destination on the continent.

This southwestern African gem combines otherworldly desert scenery with rich cultural experiences and some of the most pristine wilderness areas you’ll find anywhere. Whether you’re planning your first visit or returning to explore more of this captivating country, these five experiences should top your itinerary for an unforgettable journey.

Explore the Towering Dunes of Sossusvlei

The Namib Desert’s iconic red dunes create one of the most photographed landscapes in Africa, and experiencing them firsthand is simply breathtaking. Sossusvlei, located in the Namib-Naukluft National Park, features some of the world’s highest sand dunes, with Big Daddy reaching an impressive 325 meters.

The best time to visit is at sunrise when the low light creates stunning contrasts between the illuminated and shadowed sides of the dunes. The climb to the top of Dune 45 or Big Daddy challenges your fitness, but the panoramic views across the endless sea of sand make every step worthwhile.

Don’t miss nearby Deadvlei, a surreal white clay pan dotted with ancient dead camelthorne trees that have stood for nearly 900 years. This otherworldly landscape looks like something from a science fiction film and offers incredible photography opportunities throughout the day.

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Experience Wildlife at Etosha National Park

Etosha National Park ranks among Africa’s premier wildlife destinations, offering exceptional game viewing in a unique setting centered around a massive salt pan. The park’s network of waterholes creates natural theaters where you can observe elephants, lions, rhinos, and countless other species gathering to drink.

Unlike many other African parks, Etosha allows self-driving, giving you the freedom to explore at your own pace. However, booking a Namibia luxury safari with expert guides provides deeper insights into animal behavior and access to exclusive areas that enhance your wildlife experience significantly.

The dry winter months from May to October provide the best game viewing as animals concentrate around permanent water sources. You might witness dramatic predator-prey interactions or simply enjoy watching elephant families socializing at sunset.

Discover the Skeleton Coast’s Haunting Beauty

The Skeleton Coast earned its ominous name from the numerous shipwrecks that line its foggy, treacherous shores, creating an atmosphere unlike anywhere else on earth. This remote stretch of coastline where the Namib Desert meets the Atlantic Ocean offers an adventure into one of the planet’s most inhospitable yet fascinating environments.

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The landscape features an ever-changing tapestry of shipwrecks, seal colonies, desert-adapted wildlife, and wind-sculpted rock formations. Cape Cross hosts one of the largest Cape fur seal colonies in the world, with up to 200,000 seals during breeding season creating an unforgettable sensory experience.

Flying over the Skeleton Coast provides the best perspective on this vast wilderness, revealing patterns and features invisible from the ground. Many visitors combine coastal exploration with visits to the Himba people, one of Namibia’s last semi-nomadic tribes maintaining traditional lifestyles.

Marvel at the Fish River Canyon

The Fish River Canyon ranks as the second-largest canyon in the world and offers hiking opportunities that rival more famous trails elsewhere in Africa. This geological wonder stretches 160 kilometers long, reaches up to 27 kilometers wide, and plunges 550 meters deep in places.

The five-day Fish River Canyon hiking trail challenges experienced trekkers with its rugged terrain and extreme temperatures, but the rewards include complete solitude and ever-changing scenery. The trail only operates during winter months when temperatures become manageable and flash flood risks decrease.

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If you’re not up for the full hike, the viewpoints along the canyon rim provide spectacular vistas, especially at sunset when the light transforms the rocky landscape into shades of purple, orange, and red.

Stargaze in the World’s Oldest Desert

Namibia boasts some of the darkest skies on Earth, making it a premier destination for astronomy enthusiasts and anyone who appreciates natural beauty. The country’s low population density, minimal light pollution, and clear desert air create perfect conditions for observing celestial wonders.

Several lodges and reserves offer dedicated stargazing experiences with telescopes and expert guides who help you navigate the southern hemisphere’s constellations. The Milky Way appears so vivid in Namibia that it seems almost three-dimensional, stretching across the sky in a brilliant band of light.

Even without specialized equipment, simply lying on the desert sand and looking up reveals more stars than most people see in their entire lives. This humbling experience connects you to the vastness of the universe in ways that few other activities can match.

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Conclusion

Namibia delivers experiences that satisfy adventure seekers, wildlife enthusiasts, photographers, and anyone craving connection with raw, untouched nature. From climbing ancient dunes to tracking desert-adapted elephants, from exploring haunting coastlines to sleeping under star-filled skies, this remarkable country offers diversity that few destinations can match. Start planning your Namibian adventure now, and prepare for a journey that will exceed your expectations and leave you planning your return before you’ve even left.

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WM Technology Q4 2025 slides: revenue falls, margins compress

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WM Technology Q4 2025 slides: revenue falls, margins compress


WM Technology Q4 2025 slides: revenue falls, margins compress

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Lazard Global Small Cap Equity Portfolio Q4 2025 Commentary (LZSMX)

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Lazard Global Small Cap Equity Portfolio Q4 2025 Commentary (LZSMX)

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Market Review

Global small cap equities rose in the fourth quarter, with signs that market leadership was beginning to broaden. Notably, the months-long AI-driven rally appeared to enter a new phase, with investors becoming increasingly cautious about the sustainability

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Trump says as largest oil producer, US benefits when oil prices rise

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Trump says as largest oil producer, US benefits when oil prices rise

President Donald Trump said that America benefits when oil prices increase because the nation is the world’s biggest oil producer, but added that he considers blocking Iran from obtaining nuclear weapons to be more important.

“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” the president said in a Thursday Truth Social post

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“BUT, of far greater interest and importance to me, as President, is stoping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World. I won’t ever let that happen! Thank you for your attention to this matter,” he added.

TRUMP TOUTS ‘HISTORIC’ $300B TEXAS REFINERY AS FIRST NEW US PLANT IN NEARLY 50 YEARS

President Donald Trump

President Donald Trump speaks during a press conference at Trump National Doral in Miami, Florida, on March 9, 2026.  (SAUL LOEB / AFP via Getty Images / Getty Images)

Gas prices have been surging amid the war, with AAA’s national average price for regular gas currently at $3.598.

The U.S. plans to release millions of barrels of oil from its Strategic Petroleum Reserve next week. 

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“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves,” Energy Secretary Chris Wright said in a Wednesday statement.

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A diesel fuel pump at a Chevron gas station in Seattle, Washington, on Monday, March 9, 2026. (M. Scott Brauer/Bloomberg via Getty Images / Getty Images)

“As part of this effort, President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve, beginning next week. This will take approximately 120 days to deliver based on planned discharge rates,” Wright noted.

“Unlike the previous administration, which left America’s oil reserves drained and damaged, the United States has arranged to more than replace these strategic reserves with approximately 200 million barrels within the next year — 20% more barrels than will be drawn down — and at no cost to the taxpayer,” he said in the statement.

IRAN THREATENS $200 OIL BARRELS AS US PREPARES MASSIVE RELEASE OF EMERGENCY PETROLEUM RESERVES

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Energy Secretary Chris Wright

U.S. Energy Secretary Chris Wright attends a working lunch at the “Shield of the Americas” Summit at Trump National Doral in Miami, Fla., on March 7, 2026.  (Rebecca Blackwell / POOL / AFP via Getty Images / Getty Images)

White House press secretary Karoline Leavitt told Fox News on Thursday that the administration “is considering waiving the Jones Act for a limited period of time to ensure vital energy products and agricultural necessities are flowing freely to U.S. ports.”

The Iranian regime has threatened increased oil prices as the regime targets commercial shipping in the Strait of Hormuz. 

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“Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised,” Iranian military command spokesperson Ebrahim Zolfaqari warned in comments directed toward Washington, Reuters reported.

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Fox News’ Patrick Ward contributed to this report.

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US stock futures edge higher after Iran jitters spark deep losses; PCE data on tap

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Form 4 Arlo Technologies For: 12 March

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Form 4 Arlo Technologies For: 12 March

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FOX Business launches ‘Made in America’ contest for small businesses across US

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FOX Business launches 'Made in America' contest for small businesses across US

FOX Business is celebrating small businesses that have been the backbone of American excellence with a campaign in honor of America’s 250th anniversary that will award three winners $25,000 each, the network announced Thursday. 

FOX Business’ “Made in America” contest participants can apply online with a video or written entry at SmallBusinessAwards2026.com. Submissions and nominations will be taken on the website until March 30. 

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The three winners will also be featured in a Fox Nation special

Fans will participate in their first round of voting for their favorite small businesses beginning on April 13, after the initial submissions are narrowed down to 10 finalists.

MILLIONS OF JOBS VULNERABLE AS ‘SILVER TSUNAMI’ LOOMS OVER US SMALL BUSINESSES, EXPERTS WARN

Fox Business' Made in America campaign

FOX Business is launching its “Made in America” campaign to give back to small businesses on Thursday, March 12, 2026. (FOX Business)

A panel of judges, which will include FOX Business hosts and executives, will determine the three winners of the “Made in America” contest.

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The winners of the campaign will be announced on air and receive an award for their businesses, as well as an oversized check.

The contest victors will be announced during Small Business Week starting on Monday, May 4.

RARE AND ORIGINAL AMERICAN FOUNDING DOCUMENTS TO FLY ON FREEDOM PLANE ACROSS NATION

The U.S. Flag waves in front North Portico of the White House on April 30, 2025, in Washington, DC.

The U.S. flag waves in front of the White House on April 30, 2025, in Washington, D.C. (J. David Ake/Getty Images)

A plethora of FOX Business hosts and anchors appeared in a promo announcing the campaign. 

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“For 250 years, small businesses have been the backbone of America,” “Mornings with Maria” and “Sunday Morning Futures” host Maria Bartiromo said. 

“Built by people who took a chance on themselves and their communities,” “Kudlow” namesake Larry Kudlow added. 

“These are the places where the American story is written,” “Making Money” host Charles Payne said. 

“The Bottom Line” and “The Big Money Show” co-host Brian Brenberg said, “FOX Business is shining a light on the independent hops that keep our country moving,” and his co-host and founding FOX Business anchor Dagen McDowell provided details on the campaign. 

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FOX Business is celebrating small businesses that have been the backbone of American excellence by awarding three with $25,000 each and a feature in a FOX Nation special.

FOX Business is celebrating small businesses that have been the backbone of American excellence by awarding three with $25,000 each and a feature in a FOX Nation special. (FOX News Media)

The FOX Business “Made in America” campaign is sponsored by Comcast Business and JP Morgan Chase.

America is celebrating its 250th anniversary on July 4, 2026.

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President Donald Trump previewed his “Freedom 250” campaign in December, announcing a series of celebrations to mark the milestone anniversary of the country’s independence. 

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Oil prices top $100 as airlines prepare for double-digit fare increases

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Oil prices top $100 as airlines prepare for double-digit fare increases

The escalating conflict in Iran may no longer be contained to the Middle East, as it threatens to deliver a direct hit to the American pocketbook.

As oil prices surge and global flight paths are redrawn, international carriers are already raising fares. While U.S. airlines have not yet raised prices, a new analysis warns a double-digit fare increase could be imminent for domestic flyers.

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With jet fuel one of the largest expenses for airlines, domestic flight prices would need to increase by at least 11% to offset current fuel costs, according to Skift Research. Higher fuel costs could translate into higher fares for U.S. travelers.

Global benchmark Brent crude topped $100 per barrel late Thursday morning, marking a more than 60% increase since the start of the year. The market continues to react to halted oil shipments in the Strait of Hormuz and multiple strikes on Middle Eastern oil facilities and tankers as U.S. military forces continue Operation Epic Fury.

AMERICAN AIRLINES BECOMES FIRST U.S. CARRIER TO RESTORE VENEZUELA FLIGHTS SINCE 2019 SHUTDOWN

Qantas and Scandinavian Airlines announced earlier this week that they would raise fares in direct response to rising fuel prices, Reuters reported.

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Travelers at William P. Hobby Airport in Houston, Texas, on Monday, March 9, 2026.  (Getty Images)

Air New Zealand said it plans to cancel 1,100 flights, impacting more than 44,000 passengers, between now and early May.

“It’s an unprecedented issue as far as fuel price is concerned, but managing fuel spikes is a well-trodden path if you’re running an airline,” CEO Nikhil Ravishankar said on Radio New Zealand.

Multiple outlets reported Wednesday that Thai Airways plans to raise ticket prices by 10% to 15% due to demand and rising fuel costs, with CFO Cherdchom Therdthirasak saying during an investor meeting this week that “passengers planning to travel should secure their tickets as soon as possible before fares rise further.”

The CEO of Hong Kong’s primary carrier, Cathay Pacific, said at a press conference that with fuel prices as high as they are, price surges are being considered.

“In March, like ever since the Middle East episode began, the costs of our fuel already doubled,” CEO Ronald Lam said, the AFP reported. “So we are going to announce [a surcharge] very soon.”

United Airlines CEO Scott Kirby spoke at a Harvard University event Thursday and said high oil prices will have a “meaningful” effect and could extend into the second quarter if the war continues, adding that the impact on fares will “probably start quick,” according to Forbes.

Most U.S. carriers, including United, Delta, Southwest and American, stopped hedging fuel decades ago, Forbes said, and there is no protection contract with the U.S. government that fixes fuel prices for commercial companies.

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Delta, however, is partially insulated due to its ownership of the Trainer refinery in Pennsylvania, allowing them to avoid refining margins, though they still pay market rates for raw crude oil.

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Popular travel guide The Points Guy recommends not waiting to book flights amid the conflict — or risk paying more.

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“If you’re planning to fly this summer, go ahead and lock in your airfare now. As experts noted, prices could surge any day now,” The Points Guy wrote. “That’s especially true if you’re hoping to fly in June or July, which in recent years have been the busiest and most expensive months of the summer to travel.”

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Form 4 CDW Corp For: 12 March

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