U.S. President Donald Trump has claimed a Venezuelan oil deal will lower pump prices for Americans. He will meet with U.S. refiners and fuel distributors, looking for ways to expand domestic refining capacity and bring down gasoline prices.
Prices at U.S. pumps were at $4.08 per gallon on average nationwide Monday, according to AAA data, which is nearly 30% higher compared to the same time last year. However, experts told CNBC that his deal with Venezuela will not lower gas prices anytime soon.
Trump also has one eye on the Middle East, vowing to hit Iran "hard" after the Islamic Republic said it launched an attack on two U.S. bases in Jordan.
Growth and the Fed
Trump also continued his push for the Fed to lower interest rates, arguing that the U.S. could grow at rates of up to 20%. However, the most recent GDP numbers show a real GDP increase at a 1.5% annualized rate in the second quarter.
Fed Chairman Kevin Warsh is expected by markets to hike rates at the Fed's meeting in September.
Outlook and ChatGPT outages
Microsoft Outlook and ChatGPT Work also experienced outages, leading to a rare reprieve from work for some office workers.
