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Higher gasoline prices caused by Iran war cost U.S. consumers $21.3 billion, Mark Zandi estimates
Mark Zandi highlights growing economic damage from the ongoing war between the U.S. and Iran. He estimates that the surge in gasoline prices alone has cost Americans an additional $21.3 billion since the start of the conflict over six weeks ago.
Zandi also points out that larger tax refunds are helping to cushion the financial blow for consumers.
Zandi has previously highlighted rising issues for U.S. subprime borrowers, noting that over 10% of debt was delinquent as of February in his recent analysis. He also discussed with CNBC the rising recession risks on Wall Street and cracks in the U.S. economy. These earlier warnings come as the conflict’s economic impact adds pressure on households.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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