IMF warns Iran War could lead to recession — even with quick end |
IMF warns Iran War could lead to recession — even with quick end
The global economy was finally on a steady trajectory and starting to stabilize before the war with Iran — and now, it’s been thrown off course.
The International Monetary Fund is warning that the war in the Middle East could push the world toward a recession. Here at home, Americans are already questioning whether this is worth it. A new Reuters/Ipsos poll shows just 24 percent think the war’s benefits outweigh the costs.
So even if you don’t care about geopolitics, this is now about your wallet.
Let me break down what this actually means in real life.
First, energy. Oil prices have surged past $100 a barrel. Gas is now averaging over $4 a gallon nationwide. That’s not just painful at the pump, it ripples through everything. Shipping costs go up. Airlines raise prices. Groceries get more expensive.
Then there’s natural gas, up more than 80 percent. That affects your heating, electricity and manufacturing. And fertilizer prices are rising too, which means farmers pay more, and eventually, so do you, at the grocery store.
This is how inflation creeps back........