Stagflation risks stacking up as Iran war enters third month - Reuters
Stagflation risks stacking up as Iran war enters third month Reuters
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Notable Quotes
"Governments must resist the temptation of broad and untargeted fiscal support that could distort markets and instead focus on temporary aid for the most vulnerable households."
— Ayhan Kose , Academic
"'when oil prices go up, we make a lot of money.'"
— Donald Trump , Politician
Key People
Deputy chief economist at the World Bank.
Benjamin Hobbs is the assistant secretary for public and Indian housing at the Department of Housing and Urban Development.
Former president of the United States known for his aggressive economic policies.
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<a href="https://news.google.com/rss/articles/CBMijwFBVV95cUxON1lOYzI4T3NwMDdseXRuclFtYzBJQTJpTzdVUV9ZV09qVEZGZVhLaVVzV0ZYREZma2NNNV83bUIzYXI1d29SWUQyYUhZLTNpaTNCdWZaRjdVaW1YT3BuYXFnb1dnMlY0VWZiWFJXVmV6bmNBVHJHbkV0ZlNDZ1lidWFSUklTdnVMZFlrUUVpOA?oc=5" target="_blank">Stagflation risks stacking up as Iran war enters third month</a> <font color="#6f6f6f">Reuters</font>
Financial markets are grappling with the economic fallout of the Iran war, as the prolonged closure of the Strait of Hormuz exacerbates global energy supply disruptions, leading to stagflation concerns.
The World Bank forecasts a 24% surge in energy prices this year due to the Iran war and the blockade of the Strait of Hormuz, marking the most significant energy price spike since 2022.
The Iran war has led to a significant increase in gasoline prices in the U.S., reaching levels not seen since 2023, as global oil supply chains are disrupted.
Oil prices have surged to their highest levels since 2023 due to the Iran war, while a weak U.S. jobs report has contributed to a decline in stock markets.
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