Billionaires and Investors Worry Israel-Hamas Conflict Could Worsen Inflation and Cause Recession

Hedge fund billionaire Bill Ackman criticized Biden and past administrations for weak foreign policy that emboldened Hamas to attack Israel.

Tesla's Elon Musk lamented the "never-ending cycle of violence" between Israel and Hamas, calling for an alternative approach.

Investor Jacob Helberg warned of an emerging "revisionist authoritarian axis" of China, Russia, and Iran.

Energy traders considered the impact on Iranian oil exports and potentially higher oil prices overall.

Business leaders worry the conflict could exacerbate inflation and force the Fed to raise rates higher for longer, potentially causing a recession.