War in Iran Drives Up Gas Prices, Pushing Interest Rates Higher
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The war in Iran is causing a ripple effect, driving up gas prices and consequently, interest rates. Long-term rates have surged, making loans and borrowing more costly for Americans. Wall Street now anticipates no rate cuts this year, with a twenty-five percent chance of a rate hike by October. Fed officials are cautious, considering rate increases if inflation rises without job losses. Economists predict inflation to reach three point four percent this month and end the year around three percent. The ten-year Treasury yield has risen, pulling thirty-year mortgage rates to six point two two percent. The Fed is caught between managing inflation and potential economic slowdown due to higher gas prices.
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