I think Iran can only react with symbolic retaliation against US, but make continual conflict with Israel so that the WTI oil price may maintain below$100. Yet high oil price together with the coming tariffs will limit the ability of FOMC to cut interest rate in 2025.
If GDP falls below 1.4% and unemployment rate rises above 4.5% next year, then it is more comfortable for FOMC to have more frequent interest rate cuts.
When the coming CPI figures start to rise, Powell definitely will turn a deaf ear to the roaring of Trump.
I think Iran can only react with symbolic retaliation against US, but make continual conflict with Israel so that the WTI oil price may maintain below$100. Yet high oil price together with the coming tariffs will limit the ability of FOMC to cut interest rate in 2025.
If GDP falls below 1.4% and unemployment rate rises above 4.5% next year, then it is more comfortable for FOMC to have more frequent interest rate cuts.
When the coming CPI figures start to rise, Powell definitely will turn a deaf ear to the roaring of Trump.