International News 30 April 2026
-
Fed Keeps Interest Rates Unchanged Amid High Inflation and Growing Internal Split
The Federal Reserve (the Fed) once again held its benchmark interest rate steady on Wednesday (April 29, 2026), but this decision marked one of the most divided outcomes since 1992, reflecting growing concerns over inflation and the future direction of monetary policy. In its latest policy statement, as reported by Reuters, the Fed acknowledged rising inflationary pressures, partly driven by higher global energy prices. The central bank also removed its previous description of inflation as “slightly elevated,” replacing it with a stronger assessment that inflation is now “high.”
OPEC+ Set for “Business as Usual” Without UAE Despite Iran Turmoil
OPEC+ is likely to agree on a modest increase in oil production quotas on Sunday (May 3, 2026), despite the group losing a significant portion of its exports due to the U.S.-Israel war against Iran, as well as the departure of a key member, the United Arab Emirates (UAE). This was disclosed by three sources familiar with the discussions to Reuters. According to the sources, the oil-producing group is expected to approve an output increase of around 188,000 barrels per day (bpd). This figure is broadly in line with last month’s increase of 206,000 bpd, but adjusted to exclude the UAE’s share following its exit from the group effective May 1.
U.S. War in Iran Costs $25 Billion, Weighs on Politics and Energy Prices
The United States’ war in Iran has cost approximately US$25 billion so far, according to a senior Pentagon official who provided the first official estimate of the conflict’s military expenses on Wednesday (April 29, 2026). As reported by Reuters, Jules Hurst, who is currently serving in an acting capacity as comptroller, told the U.S. House Armed Services Committee that the bulk of the spending has been allocated to ammunition purchases. However, he did not disclose further details on other cost components, including expenses related to repairing military infrastructure in the Middle East affected by the conflict.