Putin boasts about Russia's economy despite recession fears
ST. PETERSBURG, Russia — President Vladimir Putin on Friday hailed Russia's economic outlook, saying it has managed to curb inflation and ease its reliance on energy exports.
His optimistic account in a speech at the St. Petersburg International Economic Forum contrasted with somber statements by some members of his government who warned at the same conference that Russia could face a recession. Economic Minister Maxim Reshetnikov had said Thursday that the country is 'on the brink of going into a recession.'
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Yahoo
an hour ago
- Yahoo
Palantir Holds Anti-Fragile Edge Amid a Geopolitical Firestorm
As 2025 emerges as a year marked by heightened global conflict and uncertainty, Palantir Technologies Inc. PLTR is demonstrating how its platforms are increasingly relevant in volatile environments. From the Russia-Ukraine war and the Israel-Iran escalation to rising tensions in the Taiwan Strait, governments are rapidly investing in technologies that support secure, real-time decision-making under pressure. Palantir holds an antifragile edge because rising geopolitical instability amplifies demand for its AI-driven defense platforms, thus deepening integration and long-term relevance. As global conflicts intensify, its systems become more critical, reinforcing the company's strategic value and making it stronger in the face of adversity. Palantir's strength lies in its ability to offer mission-critical infrastructure and not just tools. Its Maven Smart Systems (MSS) platform, integrating AI with real-time intelligence, has seen a rapid increase in adoption, including NATO's recent selection of MSS as its Command and Control (C2) platform for all 32 member states. This underscores a broader institutional shift toward advanced, data-driven defense capabilities. In times of crisis, decision-makers are often inundated with fragmented data and evolving threats. Palantir's platforms, Gotham, Foundry and MetaConstellation, help unify and analyze this data securely, enabling informed and timely responses. Importantly, Palantir delivers sovereign and deployable AI systems, reinforcing the autonomy and operational integrity of its users. While no one welcomes conflict, the unfortunate reality of today's geopolitical landscape has led to renewed focus on resilient digital infrastructure. Palantir's deeply integrated solutions, particularly its Ontology framework, position it as a critical enabler of secure coordination and defense modernization. PLTR has surged a whopping 85% in 2025, with its stock reaching an all-time high near $145. Image Source: Zacks Investment Research With the stock trading above 200x forward P/E and 74x forward P/S ratio, far above industry averages, even optimistic analysts will acknowledge that such multiples are difficult to justify without efficient execution. As ceasefire negotiations and diplomatic resolutions begin, the 'war premium' currently embedded in PLTR's share price could dissipate as swiftly as it had emerged. Image Source: Zacks Investment Research PLTR stock currently carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its second-quarter 2025 earnings has been on the rise over the past 60 days. Image Source: Zacks Investment Research You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. As PLTR moves higher, Lockheed Martin LMT and RTX Corporation RTX offer more grounded defense exposure. Lockheed Martin, with its massive defense contracts, provides steady cash flow and less volatility than PLTR. LMT continues to benefit from global rearmament while trading at modest earnings multiples. Similarly, RTX shines through missile systems. RTX's defense backlog, like LMT's, underscores its stability. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT) : Free Stock Analysis Report RTX Corporation (RTX) : Free Stock Analysis Report Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
an hour ago
- The Hill
How the AP decided to refer to the conflict between Israel and Iran as a war
The Associated Press is calling the current conflict between Israel and Iran a war, given the scope, intensity and duration of military activities on both sides. Other news organizations also have decided to refer to the conflict as a war, while some are still sticking with words such as 'conflict' or 'fighting.' When a conflict in the world spills into military action, it's important to use the correct terms to describe it. Sometimes a one-sided attack occurs without further action, or a conflict bubbles up and then ends quickly Using 'war' widely to describe these kinds of situations can diminish the word's importance. Then, when actual war breaks out, people might not understand its significance. The Merriam-Webster definition of war is quite broad: 'A state of usually open and declared armed hostile conflict between states or nations,' or 'a state of hostility, conflict, or antagonism.' The fight between Israel and Iran meets those criteria, though neither has officially declared war. Since Israel launched an air campaign targeting Iran's military and nuclear program, there has been a significant escalation in the conflict. Iran has launched hundreds of missiles and drones into Israel. Israel has assassinated high-level Iranian officials; targeted the country's infrastructure; called for hundreds of thousands of residents to evacuate Iran's capital, Tehran; and said it will continue its offensive. The AP provided guidance on the Russia-Ukraine war and the Israel-Hamas war in the days and weeks after fighting began. In both cases, editors considered the number of casualties, the intensity of fighting, the involvement of each party, and what each country was calling the conflict. In both cases, the AP started using the word 'war' to describe the conflicts. AP capitalizes the word 'war' only as part of a formal name, which as of now does not exist. Decisions on how AP uses the term 'war' happen in real time. AP's news leaders and standards editors will continue to monitor developments to see whether changes are necessary. At this point, the level of fighting constitutes the countries being at war, no matter what happens next. If fighting were to end soon, AP would continue saying the countries had been at war. News leaders would consider whether the level of fighting at that time amounted to being at war. If other countries intervene in the war, AP would describe the intervention as military action in support of Israel or military support of Iran. AP would also consider whether the action constitutes those countries also being at war.
Forbes
an hour ago
- Forbes
Fed Holds Interest Rates Steady, But Signals Cuts May Happen This Year
Federal Reserve Board Chair Jerome Powell holds a news conference following the Federal Open Market ... More Committee meeting on June 18, 2025, in Washington, DC. (Photo by) Although recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated. However, the Federal Reserve's Federal Open Market Committee (FOMC) announced that interest rates will remain unchanged. Fed officials are taking a wait-and-see approach regarding President Trump's trade policies – including tariffs – that have constantly evolved since 'Liberation Day' on April 2, 2025. It is the fourth straight FOMC meeting without an interest rate cut. While small business owners hoping for lower rates were disappointed, the central bank has not ruled out rate cuts in 2025. It depends on inflation. Federal Reserve Chair Jerome Powell explained during his press conference in Washington on Wednesday, June 18, that it takes time for tariffs to work through the goods chain of distribution and that many goods being sold today by U.S. retailers were imported into the country months before President Trump imposed tariffs. They impact on inflation hasn't really been felt yet. "So we're beginning to see some effects, and we do expect to see more of them over coming months," he said. "We do also see price increases in some of the relevant categories, like personal computers and audio visual equipment and things like that attributable to tariff increases." Related: What Trump's Tariffs Will Mean For Small Businesses There also are concerns about unrest related to immigration policies, as well as foreign events, such as the current Iran-Israel military conflict, which the Fed chair says he is watching. 'It is a time of real change,' he said. 'Our focus is how to keep inflation low and employment high.' At his Washington, D.C. press conference, Chair Powell reiterated – as he does at each meeting – that the FOMC seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. 'Uncertainty about the economic outlook has diminished but remains elevated,' Powell said. 'The Committee is attentive to the risks to both sides of its dual mandate.' In support of these goals, the FOMC has decided to maintain the target range for the central bank's benchmark federal funds rate at 4 ¼ % to 4 ½ %. In considering the extent and timing of future adjustments to the target range for the federal funds rate, the Fed will carefully assess incoming data, the evolving outlook, and the balance of risks. Related: 3 Reasons Small Businesses Should Borrow At Today's Interest Rates 'The Committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective,' Powell said. In formulating monetary policy, the Fed will continue to monitor the implications of incoming information for the economic outlook and is prepared to adjust the stance of monetary policy as appropriate if risks emerge that hinder the attainment of its dual objectives. Its assessments will consider a wide range of information, including readings on labor market conditions, inflation pressures, and financial and international developments. Interest Rates and Small Business Small business loans are usually variable loans. A drop in rates would cut the cost of capital for businesses that have existing loans and would make borrowing more palatable in the future. While many business owners were disappointed by that the Fed did not lower interest rates, it is important to keep in mind that the near 0% rates we saw in the period March 25, 2020 until Feb. 28, 2022 are unlikely to be occur again any time soon. Over the last two decades, the Federal Funds rate has had dramatic peaks and valleys. After the 2008 financial crisis, the rate was cut to near zero until December 2015. gradually increasing. The central bank gradually increased the rate, and in June 2018, it reached 2%. After that, the highest pre-COVID rate was a six-month stretch of 2.5% from December 2018 until June 2019. With such a long period of very low rates, it is easy to forget that prior to the downturn of 2007, the Federal Funds rate usually was in the mid single digits. Related: Federal Funds Rate History 1990 to 2025 The signals are that the Federal Reserve may lower rates later this year. However, the timing and the extent of the cuts depend on factors such as the impact of tariffs on inflation. Chair Powell said the FOMC is adapting in real-time to the effects of tariffs and that 'uncertainty about the economic outlook is diminishing, but still elevated.' Other wildcards in the equation are the labor market, and international events, such as the current Israel-Iran military showdown. The good news is that overall, we are in a pretty good economy, as Chair Powell acknowledged at his press conference. Inflation is relatively low, especially compared to 2023 and 2024, but it has not yet reached to the Fed's target of 2%. Small business owners seem to be optimistic toward the future, as earnings are rising and inflation is low, although not yet at 2%. The NFIB Small Business Optimism Index increased by three points in May to 98.8, slightly above the 51-year average of 98. Some key measures: "While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth," said NFIB Chief Economist Bill Dunkelberg. With SMB earnings on the rise for much of the first half of 2025, this is still a good time for business owners to invest in their companies, and indications are that many are doing so. Many forecasters predict that the first cut may come as early as September if inflation and job data continue to move in the right direction. Chair Powell explained the FOMC's stance on interest rates this way: 'We think our policy is well positioned right now to deliver (a strong labor market and price stability)…We will be able to respond in timely way as the data leads us. The economy has been resilient.' Two days later, Federal Reserve Governor Christopher Waller told CNBC on Friday that he doesn't expect tariffs to boost inflation significantly and that policymakers might look to lower interest rates as early as next month.
