Home loans, gas, groceries: How the Iran war could upend Trump's touted economic gains [MSNBC.com]
Goldman Sachs Group, Inc. (The) (GS)
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Source: MSNBC.com
A week ago, President Donald Trump stood before Congress and made the case that his economic agenda was working. The stock market was up, gas prices were down, inflation was slowing and mortgage rates were dropping.Less than four days later, he began bombing Iran and threw those gains into jeopardy.Aside from the human toll from the war, the fighting in the Middle East has rattled markets and upended supply chains, threatening to drive prices higher for American consumers on everything from home loans to groceries. It comes as Americans already have anincreasingly negative viewThe extent of the economic impact from the war with Iran will depend on how long it lasts, and it will take time for the effects to trickle down to consumers. Trump has said the conflict could last four to five weeks, but on Tuesday he indicated itcould stretch longerWhile it’s unclear what comes next, here are some of the ways the war is already jeopardizing the Trump administration’s economic gains:Gas pricesO
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