Iran War: Slower Growth, Higher Inflation, Oil at $100
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Bank of America warns of potential mild stagflation due to the Iran war, with oil prices potentially hovering around $100 per barrel. This could lead to a significant slowdown in US and global growth, with inflation rising. The Fed is expected to cut interest rates by 50 basis points this year, but this could be delayed if the war escalates. Wall Street is also predicting two rate cuts in the fourth quarter due to a softening job market and slowing wage growth. Energy price fluctuations are expected to significantly impact the global economy.
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