Global Strain: Energy-Price Shock Hits a World Already Buried in Debt (Wall Street Journal)
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The costs of shielding the global economy from the most severe energy shock in decades are adding up—just when governments can least afford it.

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Authorities around the world are trying to cushion the blow to ordinary people from soaring prices. The state of Georgia suspended its 33 cents-a-gallon gas tax, with other US states considering doing the same. The UK government has promised to help pay some consumers’ heating-fuel bills. China, Hungary and Japan have limited prices at the gas pump, the Wall Street Journal reports. 

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The efforts contain inflation but strain already-groaning government budgets. The longer the crisis in the Persian Gulf lasts, the more that governments will feel compelled to do.

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In Asia, the region most reliant on Middle Eastern energy, China, South Korea and Thailand have restricted fuel exports.

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The world came into the war shackled with more than $100 trillion in public debt, limiting governments’ ability to spend aggressively the way they did in the pandemic and the 2022 energy crisis. Interest rates are far higher today, and expectations that central banks will hold rates higher  to combat inflation are making borrowing far more expensive than before the war began.

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No Deal in Sight: Iran and Israel Keep Up Attacks After Trump Extends Deadline (Bloomberg)

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Iran and Israel exchanged missile fire and Tehran targeted several Gulf states on Friday morning, underscoring the willingness of the two sides to keep fighting even as Trump pushes for peace talks.

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The attacks came hours after Trump again pushed back his deadline for Iran to agree to reopen the Strait of Hormuz or face attacks on its power infrastructure. The 10-day extension was his second since Saturday’s threat to destroy the critical infrastructure in the absence of Tehran accepting a 15-point list of ceasefire terms. Iran has rejected the proposal, and countered with five conditions that include it maintaining sovereignty over the Strait of Hormuz.

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Publicly, Iranian officials remain defiant and say Trump is backing down from his threats in order to bring down energy prices, which have soared since the US and Israel started the war on Feb. 28. Brent crude is trading at round $110 a barrel and the conflict has caused fears of stagflation across major and emerging market economies.

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Support Tradeoff: Pentagon Considers Diverting Ukraine Military Aid to the Middle East (Washington Post)

The Pentagon is considering whether to divert weapons intended for Ukraine to the Middle East as the war in Iran depletes some of the US military’s most critical munitions, according to three people familiar with the matter.

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US Travel Chaos

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Airport Lines Stretch for Hours, Forcing Travelers to Pivot to Cars, Trains (Bloomberg)

Fliers across the US encountered some of the longest airport security lines since a partial government shutdown started in mid-February, with travelers increasingly seeking out alternatives to planes such as rental cars and trains.
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TSA officers have been working without pay as a Department of Homeland Security funding stalemate in Washington continues to drag on amid disputes over immigration enforcement policy.

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President Trump late on Thursday said he would sign an order to pay TSA agents to alleviate the disruptions, though it’s unclear what legal authority he has to circumvent Congress, which broadly controls federal spending.

Some travelers are considering alternative modes of transportation — switching to trains or cars, even canceling trips entirely. 

Deal in the Works: Senate Passes Homeland Security Deal After Airport Delays (Bloomberg)

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The US Senate passed legislation early Friday to fund most of the Department of Homeland Security, forging a path to end a lengthy partial government shutdown that snarled airport security and threatened to ripple through an economy already roiled by the Iran war.

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The bill, which must still pass the House and be signed by Trump, marks an abrupt reversal for Republicans, who had blocked similar proposals backed by Democrats to partially fund the department for weeks.

No Relief Yet: ICE Agents at Some Airports Begin Checking IDs in Security Lines (New York Times)

ICE agents stationed at several airports on Wednesday were checking travelers’ IDs and performing other screening duties alongside personnel from the Transportation Security Administration.

Some passengers worried that federal immigration agents were not qualified or authorized to carry out the responsibilities of TSA officers. And some immigrants were concerned that they would be targeted by ICE.

Though both work under homeland security, ICE personnel are being paid, while TSA officers are not. The result has not reduced security lines, according to data from affected airports.

What I'm Reading

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Mass Mobilization: This Weekend's 'No Kings' Protests Projected to be the Largest in American History (USA Today)

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Twice in 2025 — first on June 14, and again on October 18 — millions of Americans gathered for nationwide protests under the banner of “No Kings,” a movement opposing authoritarianism and President Donald Trump’s policies.
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This Saturday, March 28, with more than 3,100 events planned nationwide across all 50 states to protest President Donald Trump’s actions and policies, organizers expect No Kings protests to draw millions of Americans into the streets.
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In Minneapolis, a city targeted by President Trump’s immigration operations, Saturday's protest may be among the largest. Featuring a high-profile lineup of activists and cultural figures, Bruce Springsteen, Joan Baez, Jane Fonda, and Maggie Rogers are slated to join.
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No Kings demonstrations are also taking place around the world, with protests scheduled for Saturday across a number of cities in Europe, Australia, and Canada.

Trump's Latest Target: Dept. of Justice Begins Investigations Into Admissions Policies at Three Medical Schools (New York Times)

Venezuela Latest: Nicolás Maduro Appears in Court to Fight Narco-Terrorism Case (Bloomberg)
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Nicolás Maduro appeared in a Manhattan federal court Thursday as the US pushes forward with a broad drug-trafficking and narco-terrorism conspiracy case against the ousted Venezuelan leader that’s loaded with regional and geopolitical implications.

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Prosecutors claim Maduro, who was seized by the US military on Jan. 3, played a key role in a conspiracy to traffic cocaine into the US. They also allege that Maduro and others partnered with groups designated by the US as foreign terrorist organizations and that he sought to enrich himself while serving in government over a quarter of a century.

54 Days Later: Savannah Guthrie Says 2 Ransom Notes About Her Mother Were Likely Genuine in Today Show Interview (New York Times)

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🔊 New Episode Alert: Today's Daily Read Podcast just dropped, featuring an AI-powered breakdown of today’s biggest headlines. We go beyond the scroll with key takeaways, smart context, and the “why it matters” behind each story—so you can stay ahead in less time. Listen now on Spotify or Apple Podcasts.

AI Revamp: Apple Plans to Open Up Siri to Rival AI Assistants in iOS 27 Update (Bloomberg)
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Apple plans to open Siri to outside artificial intelligence assistants, a major move aimed at bolstering the iPhone as an AI platform.
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The company is preparing to make the change as part of a Siri overhaul in its upcoming iOS 27 operating system update. The assistant can already tap into ChatGPT through a partnership with OpenAI, but Apple will now allow competing services to do the same.

The changes are part of an attempt to turn around Apple’s fortunes in artificial intelligence, where it has lagged behind Silicon Valley peers. Revamping Siri, first launched nearly 15 years ago, is central to the comeback plan.

NYC Arts Expansion: The New Museum Reopens with a Second Building and a Much Bigger Idea of What a Museum Can Be (Time Out)
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After years in the making, the New Museum has officially reopened on the Bowery with a major expansion that is about more than added space. The new iteration of the institution rethinks what a museum is, how it functions and who it’s for.

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The new OMA-designed building is now open to the public, adding nearly 62,000 square feet to the institution and effectively doubling its exhibition capacity, bringing the total footprint to roughly 120,000 square feet, according to Time Out. 

The museum’s expansion didn’t just add galleries; it also has added significant infrastructure for making things. There are artist studios, a permanent home for the New Museum’s incubator NEW INC, education spaces and multi-use areas designed for workshops, talks and events. At the top of the building, these programs converge in what architect Shohei Shigematsu described as the “brain,” essentially a zone for production, discussion and experimentation.

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Spring is Here: Washington D.C. Cherry Blossoms Burst into Peak Bloom, Earlier Than Normal Yet Again (Washington Post)

A cold winter wasn’t enough to hold back an early arrival of D.C.’s famed cherry blossoms. On Thursday, the cherry trees at the Tidal Basin reached peak bloom earlier than normal for the seventh year in a row.

A message from the DC National Mall social media account in recognition of the exciting arrival:

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Weekend Streaming Guide

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Something Very Bad is Going to Happen (Netflix) 
According to the showrunner Haley Z. Boston of the new horror series “Something Very Bad Is Going to Happen,” the vibes are a mix between “Rosemary’s Baby” and “Carrie." Adam DiMarco and Camila Morrone play Nicky and Rachel, a couple who are in the week leading up to their wedding. There will be bubbling fears of commitment and, as the title indicates, it won’t be a fairy-tale ending.

Anemone (Peacock)

Daniel Day-Lewis came out of retirement to star in his first film since 2017’s “Phantom Thread” in “Anemone,” a family drama directed by his son, Ronan Day-Lewis. In it, Day-Lewis plays a hermit in the North England woods who’s visited by an old friend (Sean Bean) sent to bring him back to his son.

DTF St. Louis (HBO Max)
“DTF St. Louis” is a twisty mystery that uses its central investigation to dig into the people orbiting it, turning each new revelation into a deeper look at motive, identity and buried secrets. With a standout cast including Jason Bateman, David Harbour, Linda Cardellini, Joy Sunday and Richard Jenkins, the series keeps reshaping itself just when you think you’ve figured out what’s really going on.

Best of Late Night

On the US Army raising its enlistment age limit to 42 from 35 in hopes of enticing new recruits: 

“Because the likelihood of a 42-year-old being great at war is like any person being great with nunchucks. Some people will be good, but most are going to hurt themselves immediately. Bruce Lee? Incredible. My uncle? Concussion.”
-- Josh Johnson

"Said one drill instructor, ‘Drop and give me four sets of five!’”
-- Seth Meyers

“That’s right, the Army recently increased its maximum enlistment age to 42 years old, so expect those letters from back home to get less sexy: ‘Hey, fellas, gather ’round — she says Rebecca needs braces.’” 
-- Seth Meyers

And from The Daily Show: Seth takes a closer look at Donald Trump’s approval rating hitting a new low as ICE agents loitered in airports and Iran rejected his proposal to end the war. Click the photo below to watch. 

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