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Wildcatter Harold Hamm Says Shale Needs $80 Oil for Costly Fields

(Bloomberg) -- Harold Hamm, the billionaire wildcatter and a major donor to President Donald Trump, has challenged a claim from the new US energy secretary that domestic oil companies could increase production even at prices as low as $50 a barrel.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY

Fed Expected to Cut Rates Twice This Year, Starting in September

(Bloomberg) -- The Federal Reserve will keep interest rates steady through the first half of the year, before delivering two reductions beginning in September, according to economists surveyed by Bloomberg News. Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylva

US equity funds draw inflows on signs of cooling inflation

U.S. equity funds attracted inflows for the week ending March 12 as some investors were buoyed by a weaker CPI reading, while worries persisted over the economic impact of President Donald Trump's trade policies. U.S. equity funds saw net purchases of $4.67 billion during the week, although the strong inflows from February, which totaled about $9 billion, have tapered off with a combined outflow of $4.81 billion in the first two weeks of March. "We recommend investors embrace diversification and stay invested despite ongoing volatility ...

With uncertainty comes growing economic risk for the Fed to weigh

WASHINGTON (Reuters) -Since U.S. President Donald Trump took office in January, he has imposed biting new tariffs, with more coming, begun a disruptive cull of federal jobs and spending, risked a political fracture with Europe, and acknowledged that an economy that was by most measures fine when he took over now faces some bumps, or worse. Business and consumer sentiment have dropped, some measures of manufacturing have weakened, and the stock prices that contributed to record household wealth just as Trump was about to return to Washington have declined sharply, a possible precursor to slower spending among wealthier households that has propped up overall consumption. Employment growth has largely persisted, and inflation has continued to moderate, according to the most recent data, but tariffs imposed by the U.S. and retaliatory actions from trading partners raise the chance that could reverse.

Russia Says Drone Attack Causes Fire at Tuapse Oil Refinery

(Bloomberg) -- Ukrainian drone attacks triggered a massive fuel tank fire at Rosneft PJSC’s Tuapse oil refinery, one of the biggest in Russia.Most Read from BloombergTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionNYC Congestion Pricing Toll Gains Support Among City ResidentsOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsProspect Medical’s Pennsylvania Hospitals at Risk of ClosureThe area of ​​the fire is more than 1,