Analyst: Middle East Conflict Could Push US Summer CPI to 4%
According to a report by Jinse Finance, Bloomberg Economics analysts, including Ziad Daoud, stated that as the U.S. President's suspension of so-called reciprocal tariffs is about to expire, rising geopolitical risks are converging with the potential escalation of tariffs in the coming weeks. The most significant economic impact of the protracted Middle East conflict could be a surge in oil prices. In the extreme scenario of the Strait of Hormuz being closed, crude oil could soar to over $130 per barrel. This could push the U.S. summer CPI close to 4%, prompting the Federal Reserve and other central banks to delay future interest rate cuts. The report notes that any sharp increase in oil or natural gas prices, or trade disruptions caused by further escalation of the conflict, would become another drag on the global economy. (Jin10)
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