Morning Business Report: U.S. household income reaches record high as Iran war costs climb
U.S. median household income reached a record high last year, according to new data from the U.S. Census Bureau.
(LILAMAX)- U.S. median household income reached a record high last year, according to new data from the U.S. Census Bureau.
Real median household income increased 2.6% to $87,460 in 2025, the highest level since the Census Bureau began tracking the measure in 1967. Median income for Black households increased 4.8%, while earnings for women working full time, year-round increased 3.2%. Men’s median earnings did not change significantly.
The Census Bureau reported the Supplemental Poverty Measure was 13.1% in 2025, statistically unchanged from the previous year. The official poverty rate, a separate measure, fell to 10.2%.
Meanwhile, a new Congressional Budget Office analysis puts the cost of U.S. combat operations against Iran at roughly $38 billion through Aug. 1. The CBO estimates the conflict could add another $2 billion to $3 billion in costs for each additional month of fighting.
The CBO also estimates that between one-half and two-thirds of the U.S. inventory of certain missile-defense interceptors has been used since June 2025, including weapons expended while defending U.S. forces and allies against Iranian attacks. Rebuilding those inventories could take at least five years even if production increases.
On Wall Street, stocks slipped Tuesday as oil prices moved higher and investors positioned themselves ahead of the Federal Reserve’s interest rate decision.
In health news, BioVie announced results from a Phase 2 trial of its experimental drug bezisterim for people suffering neurological symptoms associated with Long COVID.
The company said the treatment showed statistically significant benefits in prespecified groups of patients with high levels of fatigue, cognitive impairment or post-exertional malaise. BioVie also reported the drug’s safety and tolerability were similar to placebo. The drug remains investigational, and there are currently no FDA-approved treatments specifically for Long COVID.
BioVie estimates roughly 17 million to 20 million U.S. adults are living with Long COVID.
And when it comes to casual dining, several generations have something in common.
YouGov’s U.S. restaurant brand rankings found Olive Garden was the most considered casual-dining restaurant among millennials, Gen X and baby boomers. Gen Z broke with the older generations, with Chili’s narrowly topping Olive Garden among adults ages 18 to 29.
