With Iran War, Trump Risks Stepping on Gains From His Own Tax Cuts
President Trump’s war in Iran has raised some costs just as many Americans are starting to see savings from last year’s tax cuts.
President Trump’s war in Iran has raised some costs just as many Americans are starting to see savings from last year’s tax cuts.
As the conflict with Iran expands and intensifies, President Trump’s options — to fight on, or to move toward declaring victory and pulling back — both carry deeply problematic consequences.
Treasury Secretary Scott Bessent said it was “unfortunate” that the move could benefit Russia, but maintained that it was only for the short term.
In the lead-up to the U.S.-Israeli attack, President Trump downplayed the risks to the energy markets as a short-term concern that should not overshadow the mission to decapitate the Iranian regime.
Investors now expect that the Fed will delay a rate cut until September instead of July, as they had before the war in Iran began.
The global oil benchmark topped $100 a barrel late Sunday, putting Republicans on the defensive on an issue at the center of this year’s midterm elections.
Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country’s response.
How long prices remain high will depend on what the United States, Israel and Iran do next.
Stock markets rose even as the fighting between the two countries continued into its fourth day.