America’s economy could be thrown into turmoil by the war between Israel and Hamas, analysts have said – warning that the dollar could be impacted and oil prices swiftly affected.
The conflict may lead to higher inflation in the United States, which would be a significant problem for President Joe Biden going in to the election year.
On Tuesday, economists at Goldman Sachs reported that the consumer price index looked set to continue its downward trajectory, dropping to 3.98 percent in September, down from 4.3 percent in August.
The news will be welcomed by the White House, but their work in reducing inflation could be undone by the rapidly evolving events in the Middle East.
The turmoil could impact the Suez Canal – the fastest shipping route between Europe and Asia, which carries seven percent of all global trade and is responsible for the passage of $10 billion worth of goods every day.
www.dailymail.co.uk/news/article-12616735/israel-hamas-economy-dollar-oil-inflation.html
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