2025 has been a year of turmoil, especially for American consumers. As the U.S. gets directly involved in the Israel-Iran conflict, the average American is bracing for more economic shocks. Federal Reserve Chair Jerome Powell acknowledged the tension, saying the Fed is monitoring the situation. Historically, turmoil in West Asia has led to energy price spikes, though not always lasting inflation. However, Powell noted that today’s U.S. economy is less reliant on foreign oil compared to the 1970s. Still, economists are wary—JP Morgan warns that the U.S. and global economies face multiple shocks in 2025, with a potential Gulf War topping the list. Watch in for more details!
#israeliranwar #oil #worldnews
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