CPI release and U.Michigan expectations, at 4.8% vs. Bloomberg consensus 4.2%
Figure 1: Year-on-Year CPI inflation (bold black), U. Michigan expected (blue), NY Fed (red), and Survey of Professional Forecasters (teal +), all in %. Source: BLS, U.Michigan, NY Fed, Philadelphia Fed, and author’s calculations.
Looks like JD will be talking to himself in Islamabad:
https://thehill.com/policy/international/5825614-iran-lebanon-israel-us-ceasefire-talks/
Iran won’t negotiate unless Israel stops bombing Lebanon. Iran already said it won’t open the Strait of Hormuz to ships unless Israel stops bombing Lebanon.
Kinda seems like bombing Lebanon is a big deal for Iran.
Here’s what I’ve read – judge for yourselves:
Israel is due for elections, probably in October. Things aren’t looking good for Bibi. There was initial broad support for the war with Iran, but that support has faded as it became apparent that Iran would survive, and perhaps gain from the war. Especially on the right, among Bibi’s coalition, there is dissatisfaction with the results of the war and anger at the ceasefire. This may explain Bibi’s need to step up attacks against Lebanon – he needs to be hurting muslims in order to maintain his hold on power.
There’s also this:
“Halt to Iran attacks means Netanyahu’s corruption trial will resume on Sunday”
https://www.reuters.com/world/middle-east/halt-iran-attacks-means-netanyahus-corruption-trial-will-resume-sunday-2026-04-09/
Unlike the U.S. felon-in-chief, Bibi’s government position doesn’t protect him from prosecution; wartime does. Bibi needs war, and if he can scuttle this weekend’s negotiations, maybe he can restart the war.
So, in the short run, Bibi needs war as a shield against prosecution, while in the slightly longer term, he needs war to keep his job…and to shield himself from prosecution. Bombing Lebanon may be Bibi’s get-out-of-jail-free card, quite literally.
Odd, isn’t it, that the national leaders who have have engaged in an illegal war with Iran are both criminals evading justice?