Author: Smart Wealthhabits

The Trump administration has taken several measures to soften the blow of Iran-driven oil price increases, and yet prices remain stubbornly high.As the war progresses, it is becoming clear that there is not much the US or any other government can do to provide relief from high oil prices other than ending the conflict. Military success would be required to increase oil flows and lower energy prices. That means this episode is a far cry from previous market crises that President Donald Trump presided over. The pattern of rising political tensions followed by rapid economic relief during Trump’s second presidency…

President Donald Trump promised “Drill, baby, drill” during the presidential campaign.It’s not going to get him out of this oil crisis Lawmakers and analysts say it is motivated by the war he started in Iran.Trump and Republicans aggressively pushed fossil fuel-friendly policies last year after securing election victory in 2024 on promises to lower the cost of living, including lowering gas prices.His signature domestic policy bill, known as “a big beautiful” tax and spending measure, opened the way to new land for oil and gas leasing. The administration has moved to reduce regulations that the fossil fuel industry views as…

A federal judge in a sharp ruling blocked a subpoena issued to the Federal Reserve by a grand jury as part of a criminal investigation into Chair Jerome Powell. U.S. Attorney for the District of Columbia Jeanine Pirro said shortly after it was unsealed on Friday that the Justice Department would appeal the decision, which she called an “outrageous” decision.Friday’s action will likely keep Powell in the chairman’s seat longer than Senator Thom Tillis, R-N.C. has vowed to block the confirmation of Kevin Wersh as Powell’s successor until the federal investigation is concluded.This could mean that interest rates will remain…

Rivian released important details on its upcoming R2 SUV. The R2 electric vehicle could be a game changer for the company as the most affordable model. Tesla has sold millions of Model Y electric SUV units since the nameplate’s debut. Rivian has an opportunity with the R2 to create a true Tesla Model Y rival the likes of which the industry has not yet seen. Several Model Y challengers have stepped forward, but all-electric SUVs have lagged behind in terms of sales and overall value. Is the Rivian R2 the Model Y rival that the industry and electric vehicle fans…

key takeaways Selling individual items at a loss is generally not taxable, but profits from resale may need to be reported as income. If you regularly resell items for a profit, the IRS may treat it as self-employment income. Resale platforms often collect sales tax for buyers, but you are still responsible for reporting your earnings. I started by cleaning out my closet. A blazer I hadn’t worn in years. Shoes that looked great but were impossible to wear. A bag I bought on sale and never actually used. Listing them on Poshmark seemed like a win-win deal. Less clutter…

US Trade Representative Jamieson Greer during a Bloomberg Television interview outside the White House in Washington, DC, US, on Friday, December 19, 2025. Stephanie Reynolds | Bloomberg | getty images”The whole reason the President imposed these tariffs was to try to address our massive imbalance in trade that we have experienced for many years because of China, Vietnam, the EU and others,” Greer said. “If companies are going to get this windfall, they should give it to their employees in the form of bonuses or pay raises, because that’s the purpose of the program. That’s always been the purpose of…

President Donald Trump said Friday that he believes Russian leader Vladimir Putin is helping Iran in its war against the United States and Israel.Trump’s comments came in a radio interview with Fox News host Brian Kilmeade, and a week after the president attacked Fox News reporter Peter Doocy, who asked him about Russia’s aid to Iran.Kilmeade asked Trump, “Do you think Putin is helping him?”Trump responded, “I think he might be helping them a little bit, yes.”“I think, and he probably thinks we’re helping Ukraine, right?” Trump continued.

At the end of each week, I recap the week’s “news you can use” – a few quotes from major (and often expensive) financial news sources – so you can stay up to date on the news that impacts your money without spending a dime and in less than a minute. Here’s an overview of what happened this week. Trump has left the door open to an expanded US campaign against Iran. What could this mean for the economy? (March 2, MarketWatch) “From the beginning, we anticipated four to five weeks, but we have the ability to go much longer…

A general view of the Kharg Island oil terminal port, 25 km off the Iranian coast and 483 km northwest of the Strait of Hormuz in the Persian Gulf in Iran on March 12, 2017.Anadolu | Anadolu | getty imagesThe possibility of a US move to capture Kharg Island, a strategically important hub often referred to as Iran’s “oil lifeline”, is considered extremely risky from both a geopolitical and economic perspective. The five-mile-long coral island, which lies about 15 miles off the coast of mainland Iran in the waters of the northern Persian Gulf, has remained untouched by nearly two…

Editor’s note: This story comes CableTV.com. Recently, the Federal Communications Commission (FCC) voted Consider adding additional eligibility restrictions to your Lifeline Internet Subsidy Program. The Lifeline program, which provides a $9.25 monthly internet and telephone credit to low-income households, could potentially see some of the following changes: Formally restricting Lifeline to US citizens. A five-year waiting period is required for eligible non-citizens or those undergoing the immigration approval process. Applicants need to enter their full Social Security number instead of its last four digits. Changing eligibility requirements to a “1-per-address” rule that could affect multi-family households. The FCC argues that…