FT
Iran war reawakens global inflation fears
Central banks on both sides of the Atlantic are set to confront the economic fallout from escalating Middle East tensions, with the Federal Reserve, ECB, and Bank of England all due to issue formal assessments this week. A broader Iran conflict risks disrupting oil supply chains and reigniting the inflationary pressures that policymakers spent years fighting to contain. Their verdicts will be closely watched by markets still raw from the last inflation cycle.
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Fortune
Peter Thiel is actively convincing billionaires to abandon The Giving Pledge — and it’s working
Peter Thiel is waging a quiet but effective campaign against the Giving Pledge, the philanthropic commitment championed by Warren Buffett and Bill Gates, calling it an "Epstein-adjacent Boomer club" in a recent New York Times interview. The PayPal cofounder says he has personally persuaded signatories to walk away from the pledge, which asks billionaires to donate the majority of their wealth to charity. The defections signal a growing ideological rift among the ultra-wealthy over how — and whether — elite philanthropy should operate.
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Fortune
A ‘debt spiral’ before a fiscal crisis: Interest on the national debt will be growing faster than GDP in just 5 years, think tank warns
The U.S. is barreling toward a dangerous fiscal inflection point: within five years, interest payments on the national debt will outpace GDP growth, according to the Committee for a Responsible Federal Budget. Once that threshold is crossed, the self-reinforcing cycle of borrowing to service existing debt becomes exponentially harder to escape. The think tank warns that without intervention, the window to course-correct is closing fast.
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