Iran launched retaliatory missile strikes at Israel early Wednesday local time — roughly 7 PM ET Tuesday — killing at least two people near Tel Aviv. This followed Israel's killing of three senior Iranian officials in strikes on Tehran late Tuesday, including the head of the Supreme National Security Council and, per Israeli officials, Iran's intelligence minister. Further Iranian launches came Thursday morning. For readers observing Ramadan — Ramadan Mubarak. We recognize the weight of this news landing during a month of reflection.
Separately: the Fed held rates steady at 3.5–3.75% and signaled only one cut this year, citing the war's inflationary impact. PPI came in at 0.7% — more than double expectations. TSA agents are quitting in numbers during a DHS shutdown that's now a month old, with airport security lines stretching past three hours at major hubs. And Micron posted earnings that suggest the AI memory supercycle is very real.
Iran Struck Israel Overnight. Three Senior Iranian Officials Are Dead. The Cycle Is Accelerating.
Iran launched missiles at Israel early Wednesday (approx. 2 AM local / 7 PM ET Tuesday), killing at least two people near Tel Aviv. This followed Israel's killing of three senior Iranian officials in strikes on Tehran late Tuesday. The IDF said it was intercepting further launches Thursday morning. [AP, NYT]
The Fed Held Rates and Powell Said the Quiet Part Out Loud — the War Changes Everything
Rates unchanged at 3.5–3.75%. One cut projected this year, same as December. But PPI came in at 0.7% — more than double expectations — and Powell flagged the Iran conflict as a major inflation variable. The S&P fell 1.4%. [Federal Reserve, Bloomberg]
TSA Agents Are Quitting, Airport Lines Are Hitting 4 Hours, and Smaller Airports May Close
More than 300 TSA officers have quit since the DHS shutdown began. Callout rates hit 55% at Houston Hobby. A senior TSA official told Fox News it's "not hyperbole" that some airports may have to shut down entirely. Spring break is underway. [CNN, Time]
Micron's Revenue Nearly Tripled. The AI Memory Supercycle Has Receipts Now.
$23.86 billion in revenue — up from $8.71 billion a year ago. Crushed the $20.07 billion consensus. CEO Mehrotra said all of 2026's high-bandwidth memory capacity is sold out. Q3 guidance: $33.5 billion, well above the $22.5 billion expected. The board approved a 30% dividend hike. [Micron IR, Motley Fool]
Nvidia Is Restarting Chip Production for China. Jensen Huang Said Demand Just Picked Up.
Nvidia confirmed it's restarting H200 AI chip production for the Chinese market after navigating a maze of regulatory moves. "We have received purchase orders and our supply chain is getting fired up," Huang said at GTC 2026. [WSJ, CNBC]
The Pentagon Blacklisted Anthropic as a "Supply Chain Risk." Industry Groups Want a Court to Intervene.
The designation means more than losing contracts — it labels Anthropic as a national security risk. Hundreds of companies are urging a court to pause the blacklisting. A hearing on temporary relief is set for March 24. [NYT, Axios]
