What The Iran War Has Done To The Economy
When we last checked in on the economy on the podcast, on February 23, Harvard economist Jason Furman said it looked like the U.S. had pulled off the first soft landing of the postwar era. Inflation was largely under control, the labor market was solid, and growth looked decent too.
Five days later, the United States went to war with Iran, upending the global economy. Since then, oil is up about 50 percent, average gas prices have risen by more than a dollar, and inflation has followed suit. On Friday, March inflation came in at 3.3 percent over the past year and about 1 percent since…
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