Economy
May, 2026
Suspicious Betting in Washington Is on the Rise—and Authorities Are Playing Catch-Up
President Trump: “There’s no oil coming out of Kharg Island. People are finding other places to buy oil, like Texas. So I don’t want to say we’re making a fortune, because if I say that, they’re gonna say he forgets about the little man with the $4 gasoline.”
Railroad strike prevents 300,000 riders from getting to work. Union wants 4 years of wage increases at double the inflation rate.
Retail sales growth slowed in April from March as higher gas cost leaves less room for nonessentials. Allen expects a “meaningful pullback” in discretionary spending in the second half of the second quarter.