President Trump announced his decision to revoke a Biden-era policy allowing increased oil production in Venezuela, affecting Chevron, who operates there. The Treasury Department had granted Chevron permission to expand operations in Venezuela in November 2022, with the license up for renewal on March 1. The move is seen as a response to Venezuela’s failure to repatriate criminals and has drawn criticism from the country’s vice president, warning of negative consequences for both nations.
Full Article
Tariffs could send inflation back up, top Fed official says
Federal Reserve's Concerns on Trade PolicyFederal Reserve Vice Chair Philip Jefferson expressed concerns that recently announced tariffs and uncertainty surrounding U.S. trade policy could undermine progress made in controlling inflation. This statement reflects a growing apprehension within the central bank as it attempts to navigate a challenging economic environment. Jefferson's remarks underscore the potential risks posed by trade developments on the broader economic landscape and the Fed's inflation goals. Full Article
Read more