TRACK INFLATION DATA

“And while we can make up some of that gap, because countries and companies have stockpiles, we can sort of like massage it a little bit here and there for the moment. The longer this situation goes on, the longer the tankers can't make it out of the Strait of Hormuz, the longer that 10% will continue compounding. And the longer that the supply disruption will end up rippling through the global economy.”

“So year-over-year inflation through the CPI index, which is a broad measurement of inflation, is up 3.3% from a year ago. And the Federal Reserve uses 2% as a target for where it wants inflation to be. Even before the war with Iran started, inflation was above that target level. And what we have now is an energy shock that is sending gasoline and diesel prices on one of their steepest climbs in decades, if not ever.”

“We are a net exporter of energy. We are the largest oil producer the world has ever seen. So why the heck am I paying higher gasoline prices when all of this is happening 7,000 miles away? The reason why is oil is the most global market. So we are a huge exporter of crude oil, of gasoline, of jet fuel, mainly from the US Gulf Coast. So that tethers us to the global market in a really big way.”

“There was a survey from the University of Michigan. It was the lowest ever in 74 years of the survey taking place. And so some of that might be an overreaction in vibes because the economy was pretty strong coming into this. But the direction of travel, how fast that plummeted in just one month as people were seeing those price increases in the gas station, that just goes to show that people hate this.”

“Natural gas, which is a huge part of what the Middle East exports in terms of energy, that is key for global power generation. It's key for air conditioning. It's also a key input for manufacturers around the world. If we're thinking about companies that build everything from chips to companies that create steel and need high heat, to companies that produce fertilizer for farming, all of that requires an immense amount of natural gas.”

“NASA administrator Jared Isaacman, who went to space twice as a private astronaut, was on the ship with workers from the US Navy and NASA. It was the first time that the US Navy and NASA had teamed up for a spacecraft recovery since the end of the Apollo lunar program in 1972.”

“The head of Iran's forensic medical agency says the country's death toll in the war over the past six weeks has surpassed three thousand. Additionally, 857 schools, 32 universities, and 338 hospitals were damaged or destroyed by air strikes, according to the Iranian Red Crescent.”

“Consumer prices in March were up 3.3% from a year ago. That's the biggest annual increase in almost two years. Prices jumped nine tenths of a percent between February and March with a spike in gasoline prices accounting for nearly three quarters of that increase. Gas prices have jumped by more than a dollar a gallon since The US and Israel launched their war on Iran.”

“It found forty one percent of traded mammals shared at least one pathogen with humans, while just 6% of non traded ones did. And the longer humans have been trading animals, the more viruses they share. For every decade in the wildlife trade, an additional new pathogen jumps to humans.”

“The FAA says antidrone lasers can now be used along The US Southern border. Earlier this year, the agency had shut down airspace in some parts of Texas after the Pentagon deployed the lasers. Now the FAA and Pentagon have signed an agreement that outlines the safety precautions that will be employed.”

“Trump said the rescued officer sustained injuries, but quote, he will be just fine. This was the first time Iran has shot down a US fighter jet since the war started. President Trump also issued a profane threat to Iran on Easter Sunday morning. He said starting Tuesday, the US will bomb power plants and bridges if Iran doesn't open the Strait of Hormuz.”

“Reopening of the Straits will be slow because it may have been mined. Also, the logistics of getting all the ships that are trapped in out and the ones that are out in will be slow. Repair, there's been a lot of damage to infrastructure. We don't know how bad.”

“Gasoline prices have jumped sharply since the US and Israel launched their war against Iran. That's expected to push the annual inflation rate back above 3% when the price index for March is released on Friday. Core inflation, which strips out volatile energy and food prices, is also expected to be higher in March than it was in February.”

“In his Easter address, Pope Leo said that peace cannot be achieved through weapons or threats. At a time when political leaders in the United States and in Israel have employed religious language to justify the war in Iran, the Pope said that the Christian story is one of non-violence.”

“At the weekend box office, the Super Mario Galaxy movie took the top spot with an estimated $130 million in ticket sales. That's the biggest opening of the year for a Hollywood film. The Illumination and Nintendo co-production capitalized on kids' spring break vacations, and despite mixed reviews, audiences were happy.”