The U.S. economy added 115,000 jobs in April, while the unemployment rate held at 4.3%, the Labor Department said on Friday.
Why it matters: Employers kept hiring through the Iran war's energy shock, a sign of labor market resilience that complicates the case for the Federal Reserve to cut interest rates.
Graham Platner, the presumptive Democratic nominee in Maine's Senate race, on Friday called for ending federal taxes on gasoline and diesel.
Platner is also proposing a national freeze on electricity rates.
Why it matters: His race is likely among the nation's tightest — and critical for Democrats' uphill climb to regain control of the chamber in November's elections.
LOS ANGELES — The two most consequential races in California have devolved into twin spectacles, with years of visible dysfunction hollowing out Democrats' case for competent leadership.
Why it matters: California is the ultimate paradox of Democratic rule. A state of immense wealth, innovation and cultural power is increasingly unable to deliver the basics of housing, public safety and disaster response.
If a U.S.-Iran peace deal actually happens this time — and that's still a big if — consumers have a long road ahead before filling up returns all the way to the good old days of early 2026.
Why it matters: Even if the Strait of Hormuz opened right away, pump prices will likely remain higher — maybe a lot higher — than pre-war levels at least through the midterm elections.
