Executives for high-end brands worry that a prolonged war will hurt sales in a city important to the future of the luxury industry.

Jerome H. Powell, the Fed chair, wants to keep the central bank’s policy options open as officials stare down another economic shock that threatens to stoke inflation and crimp growth.

The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.

Rising energy costs and concerns about inflation have helped lift borrowing costs for a home mortgage for the third consecutive week.

Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end.

Traders now expect Europe’s central bankers to raise rates this year to address a sharp increase in inflation because of higher energy prices.

Across both of his terms, President Trump has granted clemency to more than 70 allies, donors and others convicted in fraud cases.

The chair of the Federal Reserve said that he might not leave the central bank any time soon, setting up a potential clash with President Trump.

Japan is deploying subsidies to blunt fuel price increases but remains vulnerable to the long-term economic risks of the war in the Middle East.