J.P. Morgan warns that a direct attack on Iran could push oil prices to $120 per barrel, potentially driving U.S. CPI inflation up to 5% and undermining President Trump’s efforts to keep energy costs low. Such a spike would raise costs across the U.S. economy, reversing stable inflation trends and pressuring the Federal Reserve to consider rate hikes—impacting markets, consumer spending, and growth. Rising Middle East tensions threaten the administration’s narrative of affordable energy, raising the stakes for policymakers and household budgets
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