""As risk diminishes, gas prices might come down slightly, mortgage rates might fall, and businesses may gain confidence to hire, but we are still far from business as usual," said Stephen Kates, a financial analyst at Bankrate."
""The implications of developments in the Middle East for the US economy are uncertain," Federal Reserve Chair Jerome Powell said in the FOMC Press Conference in March."
""Even if the prices of gasoline and diesel start to come down after the conflict resolves, the effect on the economy will be more long-lasting," Kates said."
Inflation in the US reached its highest level since May 2024, with a 3.3% increase in the consumer price index in March. Energy prices surged 10.9% month-over-month, marking the largest increase since September 2005. Gas prices specifically rose 21.2% in March, the highest recorded increase. The national average gas price surpassed $4 for the first time in four years. Analysts predict that while gas prices may decrease with risk reduction, the economic impact of the war will be long-lasting.
Read at www.businessinsider.com
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