Posted 10/12/2023, 1:51:27 PM
Oil Conflict Risks Inflation Gains as Lawmakers Mull Iran Sanctions
- Conflict in the Middle East threatens to increase oil prices and undo progress on inflation.
- Lawmakers are considering oil sanctions on Iran as questions arise about its role in Hamas attacks.
- Inflation continued moderate monthly increases in September but rose 3.7% annually, slightly hotter than expected.
- Higher oil prices could push up costs economy-wide from transportation to shipping.
- The conflict presents a dilemma for the Fed if oil prices rise amid slowing growth from rate hikes.
