The Price US Consumers May Pay for the War With Iran

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After about six weeks of war, the US and Iran have an agreement to press pause. Now the world watches and waits. Thousands of people have been killed in the conflict, the vast majority in Iran and Lebanon. At the same time, the global economy has been dealt a severe blow, as the all-important Strait of Hormuz has been effectively closed, cutting much of the world off from a major chunk of its oil supply.

This week, on Everybody’s Business from Bloomberg ...