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The agency stated that prior to the initiation of the US military operation against Iran, US Treasury Secretary Scott Bessent voiced worries that the conflict would result in increased oil prices and negatively impact economic growth.
Sources indicate that high-ranking Treasury officials "have been expressing worries to the White House for several weeks regarding changes in oil and gasoline prices." The White House rejected this assertion as untrue, stating that Mr. Bessent had not raised such issues.
Bloomberg predicts that if oil stays at $170 for an extended period, it will result in increased inflation in the US and Europe, along with a deceleration in economic growth. Oil hit $200 per barrel only in 2008, and a similar price today would be a "huge shock to the worldwide economy," the agency states.
source: bloomberg.com
Sources indicate that high-ranking Treasury officials "have been expressing worries to the White House for several weeks regarding changes in oil and gasoline prices." The White House rejected this assertion as untrue, stating that Mr. Bessent had not raised such issues.
Bloomberg predicts that if oil stays at $170 for an extended period, it will result in increased inflation in the US and Europe, along with a deceleration in economic growth. Oil hit $200 per barrel only in 2008, and a similar price today would be a "huge shock to the worldwide economy," the agency states.
source: bloomberg.com
