Trump's Iran strikes risk hitting American pocketbooks if they last
President Donald Trump is gambling that his attack on Iran will not cause Americans serious economic pain in the months before November’s congressional elections.
But that bet may not pay off.
The conflict’s consequences will depend on how long it lasts and how far it spreads. Oil prices are likely to rise and shipping disruptions could make other goods more expensive, too, hitting American pocketbooks and derailing expectations of an acceleration in U.S. economic growth.
Oil prices are the immediate concern. Brent crude, the global benchmark, rose more than 12 percent to $73 per barrel in the past month as traders priced in the risk of Saturday’s U.S.-led assault. Even a short war would likely drive oil to $80 and send U.S. gasoline prices higher, analysts said.
https://finance.yahoo.com/news/trump-iran-strikes-risk-hitting-130450659.html