The Big Money Show’ reacts to the Federal Reserve hiking interest rates as President Donald Trump pushes for lower rates, and a Fox News poll shows widespread economic concern.

The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh ​joining a unanimous decision that effectively acknowledges the Trump administration's inability so far to control inflation.

The rate increase was announced less than two months before midterm elections that will determine whether Trump's Republicans retain control of Congress for the final two years of his presidency.

The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank

West pipeline shut down, the Straight of Hormuz is the best avenue available and its spigot has recently opened up. Will it last?

Oil extended the biggest drop in more than six weeks on signs of easing Middle East supply disruptions, with a key pipeline being restored.

Saudi Arabia is ramping up prompt spot sales of crude from outside the Strait of Hormuz following the shutdown of the kingdom’s East-West pipeline, which halted cross-country flows to its Red Sea coast.

FDD Executive Director Jonathan Schanzer analyzes the drone strikes that shut down Saudi Arabia's East-West pipeline and the kingdom's retaliatory response on 'The Claman Countdown.'

The Bank of England predicted British inflation will ​top 4% early next year as it held interest rates unchanged on Thursday, and Governor Andrew Bailey warned explicitly that prolonged conflict in the Middle East ‌may require tighter policy.

The Bank of England is expected to keep interest rates unchanged Thursday even though inflation in the United Kingdom has risen to a five-month high as the fallout from the Iran war continues to ratchet up fuel prices.

The Bank of England has held interest rates at 3.75 per cent, as officials grapple with the inflation shock from the Iran war and a lacklustre domestic economy. Thursday’s decision from the Monetary Policy Committee comes a day after official figures showed inflation rose to 3.

Interest rates were held at 3.75% in July, when the Bank said it was ready to raise them if the Iran-US war escalated.

The sun is shining on the economy in August, but September is likely to be a different story as energy prices have soared the last month, taking a toll on consumer confidence,

US retail sales increased more than expected in August, rebounding from a decline in the previous month, according to figures released by the Commerce Department on Wednesday. Retail sales rose 1.2% in August after falling by a revised 0.

CNBC's Rick Santelli breaks down the latest economic data to cross the tape.

August’s retail sales mirror the strong payrolls report, dispelling worries about a slowdown anytime soon,” David Russell, global head of market strategy at TradeStation, w