By Emma Tucker
For the roughly 200,000 prisoners held by Iran's regime, the war has created a new, terrifying reality. Our latest investigation shows that airstrikes have damaged complexes used to hold political detainees, putting their lives in even graver danger. Bomb blasts have ripped through windows at Tehran's notorious Evin prison, where inmates are surviving on stale bread and polluted water. Among those trapped inside are American and European hostages, a Nobel Prize winner, political dissidents and would-be reformists. Many are the leaders of a nebulous protest movement that President Trump has urged to rise up and topple the regime.
Today's Headlines
New York City's LaGuardia Airport was closed after a passenger plane collided with an emergency vehicle on the runway, killing two pilots.
Iranian missile strikes are costing big oil companies billions in lost revenue.
Abbas Araghchi, Iran's top diplomat, has become the most prominent voice of a government refusing to be cowed by the U.S. and Israeli military campaign.
ICE officers will begin trying to ease bottlenecks at airports today, as the Trump administration scrambles for a plan to end hourslong security lines.
Trump's mass-deportation campaign is taking an economic toll on mixed-status households, pushing some families into financial ruin.
Meta chief Mark Zuckerberg is building an AI agent to help him do his job.
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A bipartisan pair of U.S. senators are introducing legislation to prevent CFTC-regulated entities, including Kalshi and Polymarket, from offering wagers on sports.
A bill that would limit the activities of big housing investors has turned Wall Street landlords into a value play, writes Carol Ryan.
Read It Here First
Taiwan is on an urgent quest to win over Trump.
Taiwan has spent a whirlwind 15 months wooing the most unpredictable American leader in living memory as he tosses aside decades of precedent. For the democratically governed island, the stakes couldn't be any higher. China wants to absorb Taiwan, whose defense hinges on American support. Officials in Taipei hope Trump sees Taiwan not as a security liability but as a semiconductor ace in the U.S. quest for AI dominance. But no one in the Taiwanese capital can predict what will happen when Trump travels to Beijing, possibly in the coming weeks, seeking an elusive trade truce with Chinese leader Xi Jinping, report Niharika Mandhana, Josh Chin and Joyu Wang.
The Fed's most awkward leadership transition is coming.
Kevin Warsh promised to overhaul the Federal Reserve and cut rates. He is being greeted by rising inflation and an oil shock, among other challenges.The war in Iran threatens to push inflation higher still in the coming months, and investors now view rate increases to be more likely than cuts this year. The confirmation process, meanwhile, has stalled, making it hard to say whether Warsh will take over when Fed Chair Jerome Powell's term ends in two months. That means Warsh could ultimately arrive at a Fed under pressure from a president demanding lower rates and colleagues skeptical of cuts -- all while Powell has signaled he may not leave, reports Nick Timiraos.
Expert Take
Q: Why are service costs up in the U.S., and how are rising prices feeding into inflation?
Robust spending is driving up prices of services from haircuts to healthcare, a dynamic that is now taking center stage in the Federal Reserve's fight against inflation, explains Konrad Putzier.
A: The rising price of services is a big part of why the inflation rate has stayed above the Fed's 2% target.
Economists say prices of services keep rising because consumers still have plenty of cash. Real wages are up and unemployment is low. Rising stock prices over the past few years have made wealthy Americans wealthier.
Because high-income households generally spend a relatively big share of their earnings on services such as airplane tickets and restaurant meals, services inflation has stayed elevated, according to Eugenio Aleman, chief economist at Raymond James.
Prices of pet services and delivery services rose by 7.3% and 7.1%, respectively. The cost of haircuts, dry cleaning and internet services also rose faster than overall inflation.
Above-target price increases and a weak labor market put the Fed in a tight spot. The recent drop in hiring normally calls for lower interest rates, but that is risky while inflation is still high.
By raising energy costs, the Iran war could push up the price of services such as transportation, Atsi Sheth, chief credit officer at Moody's Ratings, told me.
At the same time, the risk of runaway inflation similar to 2021 and 2022 is low, she said. Many lower- and middle-income households are feeling the strain after years of rising expenses. That puts a limit on how much businesses can raise prices.
See The Story
The economy cabin on airplanes keeps on shrinking.
The economy cabin is losing the turf war on airplanes. Airlines are retrofitting their passenger jets or buying new ones that have a larger share of premium seats. Their goal is to squeeze more revenue out of each seat flown, catering to travelers willing to pay up for lie-flat and extra legroom seats.
Happening Today
The Supreme Court hears a high-stakes case on vote-by-mail ballots to decide whether votes count if they're postmarked by Election Day but don't arrive until later.
Economic data: A delayed Census Bureau report on construction spending for January is due, along with quarterly data on retail, manufacturing, mining and wholesale trade.
Number Of The Day
$80.5 million
The estimated amount "Project Hail Mary," a science-fiction adventure starring Ryan Gosling, opened to in the U.S. and Canada this weekend, making it Amazon's first major box-office hit. It's also the biggest opening for any Hollywood film not part of an existing franchise since "Oppenheimer" in the summer of 2023.
And Finally. . .
Ads are popping up on the fridge and it isn't going over well.
Americans have long accepted digital ads as a trade-off for connectivity, but the kitchen remained largely off-limits -- until now. A software update for Samsung's Family Hub refrigerator introduced banner ads to its 32-inch door screen. While some Americans have been taken aback by marketing messages on the appliance, Samsung says the ads can be toggled off in the device's settings.
(END) Dow Jones Newswires
March 23, 2026 06:25 ET (10:25 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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