The Institutional Risk Analyst

Oil prices surged to a five-month high as the US and Israel consider more strikes against Iran after the midterm elections. U.S. retail diesel fuel prices have jumped significantly since June 2026, rising from an average of roughly $5.06 to $5.35 per gallon in early-to-mid June to $6.276 per gallon by October, according to the U.S. Energy Information Administration (EIA). Grocery prices are up about 2% in the past 12 months, but restaurant prices are up twice that amount.

As we told Bloomberg TV last week, not only has the President's attacks not forced Powell out, but he has made this decidedly mediocre Fed chief a progressive martyr. As a result of Trump’s ill-considered attacks, Powell will likely remain as a Governor through 2028, depriving the President of an opportunity to appoint another governor for a 14-year term. How does this mess serve the agenda of President Trump?