The Economist

War, oil shocks and stubborn inflation collide to derail hopes of rate cuts and test the Fed’s independence.

Opening the Strait of Hormuz will not stop the economic fallout but there is a silver lining to the turmoil.

A tentative ceasefire may be in place between the United States and Iran but residual risks and ruined infrastructure will keep energy prices high.

The United States and Iran may have hit pause but the war has left the Gulf states exposed and searching for reliable allies.

The moon mission has recaptured some of the enthusiasm of early lunar flights.

Since the US and Israel first attacked Iran, a third of fertiliser exports have been blocked from passing the Strait of Hormuz. Soaring prices are now sowing panic among the world’s farmers.

Government borrowing costs around the globe are being pulled in opposite directions.

Jimmy Carter and Ronald Reagan both considered invading it. Saddam Hussein bombed it. In 1988 Donald Trump said that were he president, he would ‘do a number’ on the island. 

Donald Trump is deploying troops. Is he repeating the mistake of Vietnam, Iraq and Afghanistan?

THE ECONOMIST: One of the advisers the president ignores is his younger self.

The costs of dragging out the conflict could be very high indeed.

Talks on reopening the Strait of Hormuz and steering Iran away from its nuclear program will be bitterly difficult. 

The Revolutionary Guards appear to have taken control of both the state and the war — so who can strike a deal with the President

Markets excellent at pricing known risks are finding themselves ill-equipped to account for the uncertainty that comes from a war.

With luck, the Iran war won’t cause a recession. But the surge in energy prices will push up the cost of living.