Fog of War Clouds Global Rate Cut

Politico: “Trump is demanding that the Federal Reserve immediately lower borrowing costs. But the war in the Middle East has now made any interest rate cuts much less likely in 2026 — not just in the U.S. but around the world. With oil prices surging past $100 a barrel and Gulf shipping routes disrupted by the Iran war, governments and investors are bracing for a repeat of the 2022 energy shock.”