The conflict involving Iran threatens another price spike that could undermine the president's central case for lower interest rates.
In this article
Just as President Donald Trump has been insisting that inflation is on the run, the war involving Iran threatens another price spike that could undermine his central case for lower interest rates.
Oil prices jumped overnight as markets reacted to the escalation in the region, following a joint U.S.-Israel strike. West Texas Intermediate futures
rose more than 5% while Brent crude futures
gained about 6%, both off their overnight highs but still sharply elevated.
President Donald Trump's choice to lead the Federal Reserve sees inflation risk very differently than Chairman Jerome Powell.
New government inflation figures suggest increasing prices are about to increase even more.
Rising energy prices threaten to stoke inflation and hobble economic growth in countries around the world.
JPMorgan fears crude oil could hit a high of $130 a barrel, causing U.S. inflation to return to 5% in a worst case scenario.
Central bankers and economists warn prolonged conflict could raise retail prices and rip up growth forecasts
Trump's comments also rekindled concerns over stagflation, the toxic mix of high inflation and weak growth that roiled markets in…
Middle East crisis pushes up oil prices – and could drive inflation rises too
