Global price shocks are a potential consequence of ongoing conflicts involving Iran, even if the U.S. does not directly import Iranian oil. LiveNOW’s Andrew Craft is speaking to Peter Earle, a senior economist at the American Institute for Economic Research (AIER) as oil prices are on the rise with a continuation of conflict in the Middle East.
Friday’s Israeli attack on Iran has escalated their ongoing conflict, potentially leading to a broader regional war. This could result in increased prices for both businesses and households. In response, markets have retreated, with oil and gold surging and the dollar rising. This might indicate a flight to safer investments.
President Donald Trump has also raised the temperature on Israel’s fight with Iran by calling for “UNCONDITIONAL SURRENDER!” on his Truth Social page and saying, “We are not going to” kill Iran’s leader, “at least for now.”
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