ECONOMY09/24/26

Trump's Diesel Export Ban Debate

Trump is weighing a 90-day diesel export ban despite opposition from Cabinet officials and oil companies.

Photo: Fox Business

DIFFERENT FOCUS

New Republic emphasized Cabinet Defiance, Policy Chaos; Fox Business emphasized Price Controls Always Backfire.

LEFT FOCUS

▸Trump is preparing the ban against the advice of many Cabinet members and oil companies. — New Republic
▸Wright warned CEOs a ban was imminent, and executives immediately called the White House with concerns. — New Republic
▸Wright later suggested a 'voluntary' plan may replace a blanket ban. — New Republic

RIGHT FOCUS

▸A diesel export ban functions as a price control, which historically creates shortages and eventually higher prices. — Fox Business
▸Enforcing a ban could ultimately curtail U.S. oil drilling and production, not just diesel exports. — Fox Business

September CPI Hits 3.7%

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest