"Fresh food and perishables are almost like the canary in the coal mine," when energy prices go up, according to Vidya Mani, an associate professor at the University of Virginia's Darden School of Business.
The global impact of the war in Iran has caused the average price of gasoline in the United States to rise above $4 per gallon for the first time since 2022. Prices have risen by more than 30% since late February, reflecting an energy shock affecting the entire economy.
The US dollar returned to the upside as geopolitical fears rebounded after US President Trump's address to the nation. The rhetoric fuelled risk aversion and flows toward the dollar while oil prices surged.
Warning to the invading American ruling establishment and its affiliated spy companies. You ignored our repeated warnings about the necessity of halting terrorist operations, and today, in terrorist attacks carried out by you and your Israeli allies, a number of Iranian citizens were martyred.
President Trump hates the United States' trade deficit. Indeed, he is so concerned about the "economic and national security risks" the deficit creates that he imposed a tariff regime that raised geopolitical tensions across the globe.The only problem is that his tariffs don't appear to be rebalancing the huge volume of goods and services the U.S. imports, versus its declining exports.
