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Trump reimposes naval blockade on Iran amid escalating clashes in Hormuz AxiosLive updates: Ceasefire disintegrates as Trump says US will reinstate blockade of Iranian ships in Strait of Hormuz CNNOil Jumps as Trump Vows to Renew Iran Blockade, Nasdaq Slumps | Markets P.M. for July 13 WSJTrump proposes 20% toll on cargo through Strait of Hormuz; restarts Iran blockade CNBCUS to take over Stra
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Live updates: Ceasefire disintegrates as Trump says US will reinstate blockade of Iranian ships in Strait of Hormuz CNNTrump's Threat to Impose Fees in the Strait of Hormuz Contradicts His Aides The New York TimesUN maritime agency opposes Hormuz transit fees after Trump demands protection money CNBCUS to take over Strait of Hormuz, charge 20 percent fee for cargo shipped through, Trump says Politico
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Price of Brent crude rises to highest in a month as tensions between Washington and Tehran flare
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US judge voids Donald Trump's $1.8bn settlement with IRS that gave him immunity from tax audits BBCTrump Administration Live Updates: Judge Says President's Lawsuit With I.R.S. Was Self-Dealing The New York TimesJudge: Trump sought to ‘manipulate the judicial process' with his IRS lawsuit and attempted $1.8B fund CNNTrump's attorneys, Justice Dept. leaders misused courts in IRS case, judge says The Washington PostJudge say
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S&P 500 drops after Trump reimposes Strait of Hormuz blockade, SK Hynix leads chip stocks lower: Live updates CNBCStocks slip, oil rallies and bond yields rise as Gulf conflict escalates The Times of IsraelStock Market Today: Dow turns lower, S&P 500 and Nasdaq decline as semiconductor stocks fall and U.S.-Iran tensions flare anew MarketWatchOil Climbs, US Futures Dip on Fresh Iran Strikes: Markets Wrap Bloomberg.com
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THEY have been at this a long time. In 1994 Republicans, newly in charge of Congress, held hearings on what would come to be called 'dynamic scoring'. Bills, they said, should be evaluated using the predictive power of macroeconomic models. If the model predicts more GDP growth, then it could be inferred that the growth would produce more tax revenue. During the hearings, however, came an awkward moment. Alan Greenspan, then in charge of the Federal Reserve, told Congress that macroeconomic models were 'deficient'. That is, their predictive power, though interesting, was not good enough to rely on. Last year, after the election of Donald Trump, your blogger contacted Mr Greenspan to see whether the models were good enough yet. Mr Greenspan, his office responded, had not yet changed his opinion.Neither have Republicans. Over the past two decades, in and out of control of Congress, the party has nudged dynamic scoring successively closer to the official policy process until we arrived, yesterday evening, at as dramatic a moment as macroeconomic analysis ever gets. The Joint Committee on Taxation, the nonpartisan Congressional body responsible for evaluating tax proposals, hurried its study (PDF) out on a Thursday afternoon as the Senate was preparing to approve a tax cut. That cut, ...
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