Wall Street Journal: “In the last year, the U.S. economy has seemed to defy gravity, withstanding a chaotic trade war, shocks to the labor supply, and wild swings in the stock market. Now it is absorbing a global oil shock far better than most of the world.”
“But it isn’t fully insulated from the Iran war. Gas prices have leapt, hitting inflation-weary Americans and businesses that rely heavily on fuel. Analysts have warned of shortages of fertilizer, necessary for farming, and helium, a critical component for medical machinery and chip production. European pain matters for the U.S., too: Foreign customers for U.S. goods and services might lose buying power as their own economies struggle.”
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