The tweet was deleted by the author.
But we saved everything 🙂.
Robin Brooks observes that the Iranian Rial significantly declines in value immediately after a U.S. blockade is put in place.
He points out that this pattern has occurred both when the blockade started in April and again recently. Brooks asserts that although economic measures require time to take effect, they are ultimately effective.
Brooks has recently commented on the impact of major interventions in foreign exchange markets. He noted that Japan's efforts to prop up the yen were unsuccessful, as the currency remains weaker than in 2024 despite recent moves by authorities (link). In a separate analysis, Brooks highlighted a disconnect as oil prices returned to pre-war levels but broader markets did not retrace prior valuations (link).