The economy was flashing stagflation signals even before the Iran conflict added an oil shock to the mix. Source: axios.com

Previous Mideast conflicts have caused recession. Today’s economy has more insulation from oil shock, but is showing some strains. Source: wsj.com

If prices soar to $125 a barrel and stay there, it could push this crisis into a full-blown shock. Source: barrons.com

Europe should act swiftly to contain pressures and ‌protect its economies and citizens if high energy prices persist for a prolonged period because of the U.S.-Israeli war on Iran, the head of euro zone finance ministers said on Friday. Source: reuters.com

Kremlin officials said the American move, which Europe opposes, showed that Moscow could not be dislodged from the center of global energy markets. Source: nytimes.com

U.S. consumer spending rose solidly in January and underlying inflation maintained a strong pace of increase. Source: detroitnews.com