South County Mail

Missouri and the World

inflation

Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

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Many Americans hoping for relief in the housing market are still waiting.

Despite a series of Federal Reserve interest-rate cuts in 2024 and 2025, mortgage rates remain elevated, frustrating homebuyers, homeowners looking to refinance, and anyone hoping for a more affordable path into the housing market.

According to data released by Freddie Mac on June 4, the average rate on a 30-year fixed mortgage stood at 6.48 percent. While that is slightly below some recent peaks, it remains well above the levels many buyers became accustomed to during the pandemic years. [Read more…] about Why mortgage rates remain stubbornly high despite Federal Reserve rate cuts

Oil companies earning billions from Iran war as fuel prices rise worldwide

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The war involving Iran is generating enormous profits for some of the world’s largest oil and gas companies, even as consumers and businesses face rising fuel and energy costs.

According to an analysis by environmental organization Global Witness using data from energy research firm Rystad Energy, the world’s 100 largest oil and gas companies earned an estimated $23 billion in additional profits during the first month of the conflict alone.

The report estimates that if oil prices remain elevated throughout 2026, those extra profits could rise to as much as $234 billion by the end of the year. [Read more…] about Oil companies earning billions from Iran war as fuel prices rise worldwide

Trump’s China diplomacy could weaken Russia’s influence

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The summit between President Donald Trump and Chinese president Xi Jinping last week was closely watched around the world, particularly in Moscow, where Russian president Vladimir Putin may have seen signs that improving relations between Washington and Beijing could gradually reduce Russia’s global influence.

While the meeting focused publicly on trade, technology, Iran and Taiwan, the broader geopolitical significance may lie in the possibility that the United States and China are attempting to stabilize one of the world’s most important relationships after years of growing tension.

For Russia, that could create new challenges. [Read more…] about Trump’s China diplomacy could weaken Russia’s influence

Why Trump’s meeting with Xi matters to American jobs, prices and manufacturing

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The meeting between President Donald Trump and Chinese president Xi Jinping last week was dominated by familiar geopolitical flashpoints – trade, technology, Iran and Taiwan – but the broader significance for ordinary Americans may lie much closer to home.

While headlines focused on tensions over Taiwan and military posturing in the Asia-Pacific region, economists and manufacturers will be watching for something more practical: whether Washington and Beijing can stabilize a relationship that remains deeply intertwined with the American economy.

Even after years of tariffs, reshoring initiatives and political hostility between the world’s two largest economies, the United States still relies heavily on China for manufacturing, industrial supply chains, electronics, consumer goods and critical materials. [Read more…] about Why Trump’s meeting with Xi matters to American jobs, prices and manufacturing