4N — Fast News Briefings, Today's Headlines

Kevin Warsh was sworn in as the 17th Federal Reserve Chair today, taking the helm amid mounting inflation concerns and market speculation over imminent interest rate hikes, a move likely to impact both the U.S. and global economies. As Americans prepare for Memorial Day, many are already feeling the pinch as gas prices surge to their highest levels in four years, prompting households to rethink travel and spending plans during the busy holiday period.

On the international stage, tensions in the Middle East remain high as mediators from Qatar and Pakistan arrive in Tehran in a bid to reopen the Strait of Hormuz and reduce the risk of conflict between the U.S. and Iran. Meanwhile, the ongoing war in Ukraine continues to claim civilian lives, with at least four killed in a strike on a dormitory in Russian-occupied Starobilsk, underscoring the persistent dangers faced by non-combatants in contested regions.

Developing: Diplomatic talks in Tehran remain fluid, with no clear breakthrough yet on the reopening of the Strait of Hormuz.