Business News Update — May 09, 2026 6 PM Eastern

Clockwise Business News — The Federal Reserve's latest May inflation forecast reveals an unexpectedly grim outlook for Wall Street, indicating that persistent price pressures are strengthening. This is Clockwise business news, 6 PM Eastern. This concerning prediction is primarily fueled by surging global oil prices, a direct consequence of the ongoing Iran war. Experts now anticipate sticky core inflation to hover around 3%. Such stubborn inflationary data significantly complicates the Federal Reserve's path to policy normalization, reinforcing a cautious monetary stance.