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As the war with Iran continues to rage in the Middle East, the rising cost of oil is pushing up the price of gas and other major categories like groceries, along with threatening the global economy more broadly. NBC News’ Brian Cheung explains. Source: nbcnews.com
For decades, New Zealand has relied on inflating the housing market to engineer a recovery during downturns, but the playbook has failed this time, putting policymakers in a quandary just as the Middle East war adds a new layer of uncertainty. Source: reuters.com
British Prime Minister Keir Starmer is set to chair an emergency meeting on the economic fallout from the war in Iran on Monday, with finance minister Rachel Reeves and Bank of England Governor Andrew Bailey in attendance, the government said. Source: reuters.com
It’s a free-market success story. Source: washingtonpost.com
“The US can implode Iran’s economy by shutting down its oil exports.” Source: fortune.com
The large jump in tax refunds from President Donald Trump’s tax cut legislation was meant to boost the U.S. economy, but surging gas prices are on track to eat them up, leaving Americans with little extra to spend. Source: pbs.org
Telling PMI, consumer confidence and inflation updates, plus Denmark goes to the polls, Anglicans anoint first female leader Source: ft.com
Agriculture Secretary Brooke Rollins outlines the Trump administration’s America-first strategy, the impact of the Iran conflict on fertilizers and more during ‘The Sunday Briefing.’ Source: foxnews.com
Corporate executives are not panicking over a short-term increase in oil prices and Strait of Hormuz closure, but patience may wear thin in a matter of weeks. Source: cnbc.com
Lower and middle-income households are likely to be hit particularly hard, because they receive lower refunds, while spending a greater proportion of their earnings on gas. Source: mprnews.org
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