Iran war's energy price shock is likely to spiral economy-wide
Fears about a stagflationary scenario are back, with a fresh inflationary shock coming alongside new signs of labor market weakness. While higher oil prices should mean higher revenue for America's energy extraction industries and limit the damage to GDP, the cost for already-strained households and key industries is likely to be immediate and visible
If it lasts a month, it might be a recession. If it lasts 6 months, kiss the economy goodbye.
RE