Inflation climbs to 4-year high as Iran war drives up energy prices

Happy Friday! The Artemis II astronauts are set to splash down to Earth this evening! The capsule will lose communication with Mission Control for about six minutes while it falls through the atmosphere. Oh, and parachutes will slow it down from about 25,000 mph to just 20 mph.  

Inflation hits nearly 4-year high

Inflation hits nearly 4-year high

UK prime minister ‘fed up’ with energy hikes

UK prime minister ‘fed up’ with energy hikes

Vance heads to Pakistan with big task: End war in Iran

Vance heads to Pakistan with big task: End war in Iran

Melania Trump denies Epstein ties

Melania Trump denies Epstein ties

Roger Stone reportedly saved Gabbard’s job

Roger Stone reportedly saved Gabbard’s job

Masters highlights and viral moments

Masters highlights and viral moments

Inflation, it’s getting hot, hot, hot:

Credit: AP Photo | Damian Dovarganes

Inflation surged to 3.3 percent (!) over the past year, with energy prices rising nearly 11 percent. 

For context: This is the highest inflation increase in nearly four years.

More about energy prices: The price of fuel oil jumped by 30.7 percent. The price of gasoline spiked by 21.2 percent. Oh, and the price of energy commodities rose by 21.3 percent.

Timing: The U.S. and Israel launching a military operation against Iran drove up energy prices. Traffic significantly slowed at the vital Strait of Hormuz, which transports roughly 20 percent of the global oil supply.

➤ GAS PRICES MAY TAKE SOME TIME TO COME DOWN:

That’s because the wholesale price of oil jumped as refiners tried to stock up on their supply. They paid high prices for this crude oil and those prices will be passed along to customers, even if future oil shipments are lower. Read the WSJ explainer

Read more: The New York Times reports how “The Oil Shock Is Worse Than You Think.”

➤ BRITISH PRIME MINISTER KEIR STARMER IS ‘FED UP’:

British Prime Minister Keir Starmer says he is “fed up” with how the U.S. and Israel’s war in Iran has raised energy prices in the United Kingdom. He even drew parallels to Russian President Vladimir Putin.

Starmer told ITV News’s Robert Peston: “I’m fed up with the fact that families across the country see their bills go up and down on energy, businesses’ bills go up and down on energy, because of the actions of Putin or Trump across the world,” he said.

✈️ IN THE WHITE HOUSE

Vance is off to test his skills:

Vice President Vance heads to Pakistan today for one of his biggest tasks yet: salvage the fragile ceasefire deal with Iran that appears to be crumbling and bring the war to an end.

Who else is tagging along?: Special envoy Steve Witkoff and President Trump’s son-in-law, Jared Kushner

Keep in mind about Vance: “He’s also emerged as the leading internal critic of the U.S. war in Iran as new reporting has noted his skepticism of the conflict since before it began. … Despite his skepticism, Vance is loyal to Trump.”

Read more on what to expect, via The Hill’s Julia Manchester: ‘Vance seeks to save fragile ceasefire at expected Islamabad trip’

💬 Follow today’s live blog

➤ MEANWHILE, TRUMP TOLD ISRAEL TO BACK OFF:

President Trump says he told Israeli Prime Minister Benjamin Netanyahu to scale back strikes in Lebanon because it could unravel the delicate ceasefire between the U.S. and Iran.

➤ WHAT IS THE EXTENT OF THE CIVILIAN DAMAGE IN IRAN?:

Some schools and hospitals in Iran have been devastated, according to a New York Times analysis.

As of April 2: “At least 763 schools and 316 health care facilities had been damaged or destroyed in the war.” 📸 Photos from the Times’s analysis

What about civilian casualties?: “The Times was not able to verify the total number of people killed at schools and health care facilities. At least 1,701 civilians have been killed in Iran as of Tuesday, according to the Human Rights Activists News Agency. Among them are students, teachers and health care workers.”

➤ A REMINDER TO WHITE HOUSE STAFF — NO INSIDER TRADING:

“The White House warned staff last month against using nonpublic information to trade on financial markets, as a series of well-timed bets on oil and prediction markets related to the war in Iran have raised concerns about insider trading,” reports The Hill’s Julia Shapero. Read more

I had to do a double take on this:

First lady Melania Trump caught Washington off guard when she gave a rare, on-camera statement on Thursday declaring she did not have ties to convicted sex offender Jeffrey Epstein.

“I am not Epstein’s victim. Epstein did not introduce me to Donald Trump,” she said from the podium.

“The lies linking me with the disgraceful Jeffrey Epstein need to end today. The individuals lying about me are devoid of ethical standards, humility and respect,” the first lady added. “I do not object to their ignorance, but rather I reject their mean-spirited attempts to defame my reputation.”

Oh, and she referenced an email she says she sent to Epstein associate Ghislaine Maxwell, stressing it was “casual correspondence.” Read more about her statement

Why this caught Washington off guard: It’s not clear what reports she was responding to — or why she gave this statement now.

The president didn’t even appear to know this was coming: In a phone call with MS NOW reporter Jacqueline Alemany, President Trump said he didn’t “know anything about” Melania Trump’s statement before her appearance.

So, now: A group of Democrats on the House Oversight and Government Reform Committee wants her to testify before Congress.

How do Epstein survivors feel about Melania Trump’s statement?: A group of Epstein survivors argue the first lady’s denial “diverts attention” from former Attorney General Pam Bondi’s handling of the Epstein files.

It sounds like Tulsi Gabbard was skating on thin ice:

President Trump sounded like he was ready to can his director of national intelligence, Tulsi Gabbard, last week. But Axios’s Marc Caputo learned that one of Trump’s longtime friends, Roger Stone, talked him out of it.

Why Trump may have been close to firing her: “Why it matters: Trump was displeased with Gabbard when she didn’t wholeheartedly endorse the Iran war during her recent testimony to Congress about threats to the U.S., according to five advisers and confidants who spoke with the president.”

Some of Stone’s arguments: Gabbard is loyal and firing her would invite damaging headlines for the Trump administration. She would look like a martyr over her disagreement about the war in Iran.

Read more: ‘How Roger Stone persuaded Trump not to fire Tulsi Gabbard’

There is so much good content coming from Augusta, Ga.!

The viral sensation at this year’s Masters: A cute little garden gnome is the hottest item sold at the Masters. They cost $59.50 but resell online for roughly $500-800. The Washington Post noted that a 2016 gnome is listed for $18,000 (!)

The tournament makes so much money from merch: The Masters reportedly sell $1 million in merch every hour during the event. In total, it is expected to bring in $70 million in merchandise sales.

Rory McIlroy chose the menu for the champions dinner: He selected wagyu filet mignon, sticky toffee pudding, bacon-wrapped dates, etc. 📸 McIlroy’s menu He was asked about the menu and his response was hilarious. “People keep asking me, ‘Why didn’t you go more Irish?’ and I said, ‘Because I want to enjoy the dinner as well,'” McIlroy joked. 🎥 Watch the clip

Future reference — no middle fingers: A Scottish player may be penalized for giving the middle finger during a quadruple bogey.

— The Federal Aviation Administration is recruiting video gamers to help ease the national shortage of air traffic controllers, according to The New York Times.

— A federal judge has ordered the Pentagon to restore press access.

The New York Times: Is the T.S.A. Ordeal Really Over?

Op-ed in The Washington Post: A frightening chunk of our digital world has become more vulnerable

The Atlantic: Is Schoolwork Optional Now?: Education is on the verge of becoming fully automated.

The Washington Post: After record highs, Colorado’s legal pot market hits a harsh comedown

The House and Senate are out. 🌴 President Trump is in Washington, traveling to Charlottesville, Va., later this afternoon. (All times EDT)

2:30 p.m. Trump participates in policy meetings.

6:30 p.m. Trump attends a MAGA Inc. meeting in Charlottesville, Va., followed by a dinner.

This evening Trump returns to the White House.

Saturday Trump travels to Miami to attend UFC 327.

🥐 Celebrate: Today is National Cinnamon Crescent Day.

🍦 Do you have a Ben & Jerry’s near you?: If you do, Free Cone Day is happening on Thursday!

To celebrate (hopefully) the end of the cold weather, watch these two corgis decide in real-time how they feel about snow.

📺 Miss the previous issue of this newsletter? Catch up with a 1-minute video.

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