Trump Is Kicking the Economy While It’s Down
Iran is blocking oil tankers from passing through the Strait of Hormuz. Consumers around the world are already seeing higher gas prices as a result, but the global oil supply affects so much more than just prices at the pump. Soon, shoppers could see higher prices on food, clothes, e-commerce, and everything in between. The Atlantic staff writer Rogé Karma explains that a healthy economy could probably weather an oil shock like this. A weaker economy, however, such as the one the United States has now, could slip into a recession.
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Iran is blocking oil tankers from passing through the Strait of Hormuz. Consumers around the world are already seeing higher gas prices as a result, but the global oil supply affects so much more than just prices at the pump. Soon, shoppers could see higher prices on food, clothes, e-commerce, and everything in between. The Atlantic staff writer Rogé Karma explains that a healthy economy could probably weather an oil shock like this. A weaker economy, however, such as the one the United States has now, could slip into a recession.
Get more from your favorite Atlantic voices when you subscribe. You’ll enjoy unlimited access to Pulitzer-winning journalism, from clear-eyed analysis and insight on breaking news to fascinating explorations of our world. Atlantic subscribers also get access to exclusive subscriber audio in Apple Podcasts. Subscribe today at TheAtlantic.com/Listener.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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