Interest rates held steady

Interest rates held steady at 3.5-3.75% under new Fed Chair, Kevin Warsh at the FOMC meeting June 17, 2026.

US raw steel production down from previous week

In the week ending June 13, 2026, US raw steel production was 1,854,000 net tons at an ACUR of 80.3 percent, down 1.2 percent from the previous week ending June 6, 2026.
Adjusted YTD production through June 13, 2026 was 42,544,000 net tons at an ACUR of 78.6 percent.

Empire State Manufacturing Survey reports business activity increased modestly in June

The Federal Reserve Bank of New York released its Empire State Manufacturing Survey results for June and reports business activity increased modestly, according to firms responding to the survey. The headline general business conditions index remained positive but fell fourteen points, to 5.7. New orders and shipments both moved higher and unfilled orders increased. Delivery times continued to lengthen and supply availability continued to worsen. Looking ahead firms maintained a fairly optimistic outlook for business activity.

Manufacturing Business Outlook Survey reports activity in the region expanded overall

The Federal Reserve Bank of Philadelphia released its Manufacturing Business Outlook Survey Results for June 2026 and reports manufacturing activity in the region expanded overall, according to firms responding to the survey. The survey’s indicators for general activity and new orders rebounded into positive territory this month. The shipments index moved higher, the employment index also returned to positive territory. Firms continue to expect overall growth over the next six months.

US drill rigs running up from previous week

There were 563 drill rigs running in the US in the week ending June 18, 2026, up one rig from the previous week, up nine rigs from one year ago. Canadian drillers added six rigs, to 186, up forty-seven rigs from one year ago.

It appears we have a “deal” with Iran wherein the Strait of Hormuz will open immediately, and no fees will be charged to any ships traveling through them. Iran will not seek to manufacture, purchase or otherwise obtain a nuclear weapon (s) and a list of other requirements.

Frankly, their record over the past 47 years does not support them holding to the stipulations of the deal. Time will tell. West Texas Intermediate closed at $81.55 per barrel.

There is quite a bit of chatter going on regarding the “Memorandum of Understanding” to be signed Friday by the USA and Iran. I would not believe any of it as very few people know what is in it, least of all the Iranians, where I suspect most of the “reporting” is coming from.

Everyone is crying about “affordability” (Democrats, anyway), yet retail sales grew 0.9% in May. These are Democrat talking points (affordability) since this is an election year. Wages are rising, Trumps tax breaks on tips, American made autos, overtime and a strengthening labor market are just confirmation, once again, the Trump was right about everything, and this is why they hate him, he is doing the right things for America and the socialists and communists hate it.

The more I hear out of Iran regarding the MOU, the more I come to distrust Iran. Their intentions are not honorable in the least. I pray the president has the fortitude, and I believe he does, to take the necessary action and bomb the shit out them at the first sign of Iran ignoring the “agreement.”

Our country is in great danger. Ronald Reagan once said “Freedom is never more than one generation away from extinction.” The Democrat party, as I knew it growing up, has already been destroyed by communists and socialists and I believe the main support is coming from our youth, those 19-39 years of age. Look at the so called “Democratic” socialists winning office across the country, it is disheartening, especially on the eve of the 250^th birthday of FREEDOM.

You can say “ they are too young and don’t yet know…” but that is because the socialists and commies have polluted our education system. Children are no longer taught the dangers of communism and socialism. They will soon find out in New York City and Washington DC where a declared Democrat Socialist just won the mayoral race, and in Maine, where Platner has won his primary, another socialist.

Overnight Thursday, Hezbollah in southern Lebanon, killed four Israeli soldiers, breaking the already fragile cease fire. The world cannot, in good conscience, ask Israel not to defend itself against the relentless attacks by those who want to wipe them off the map. Can’t do it.

MAKE AMERICA GREAT AGAIN