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Trump Tariffs, Iran Attack Drive Inflation, Markets Surge

5/25/2026

30 4 Full Breakdown

Summary

Story summary

U.S. President Donald Trump’s tariffs and Iran’s attack lifted inflation to 3.8% in April, with Fed projecting 4.18% for May.
Dow, S&P 500 and Nasdaq hit highs as S&P 500’s Shiller P/E topped 42.
Iran closed the Strait of Hormuz, halting 20 million barrels and spurring oil and gas price spikes.
Fed Chair Jerome Powell’s term ends May 15, with Warsh to succeed him and FedWatch indicating 77% odds of a hike by April 2027.

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Story summary

U.S. President Donald Trump’s tariffs and Iran’s attack lifted inflation to 3.8% in April, with Fed projecting 4.18% for May.
Dow, S&P 500 and Nasdaq hit highs as S&P 500’s Shiller P/E topped 42.
Iran closed the Strait of Hormuz, halting 20 million barrels and spurring oil and gas price spikes.
Fed Chair Jerome Powell’s term ends May 15, with Warsh to succeed him and FedWatch indicating 77% odds of a hike by April 2027.