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Escalating US-Iran conflict threatens global energy hubs - President Trump has issued a profane threat to bomb Iranian power plants and bridges if the Strait of Hormuz is not reopened by Tuesday.
“He said starting Tuesday, the US will bomb power plants and bridges if Iran doesn't open the Strait of Hormuz.”
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Energy-driven inflation is delaying potential interest rate cuts - Surging gas prices, now averaging over $4 per gallon, are expected to push inflation back above 3%, making the Federal Reserve cautious about lowering borrowing costs.
“Reopening of the Straits will be slow because it may have been mined. Also, the logistics of getting all the ships that are trapped in out and the ones that are out in will be slow.”
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Pope Leo challenges the religious justification for war - In his first Easter address, the new Pope criticized leaders for using religious rhetoric to justify the conflict in Iran and called for a global shift toward non-violence.
“The Federal Reserve says President Trump's tariffs have contributed to upward pressure on the price of imported goods. Stubborn inflation is making the Central Bank cautious about cutting interest rates.”