Iran War's Economic Toll: A Surprisingly Muted Impact
New York (AP), Six months into the Iran war, predictions of economic catastrophe have not come true. Despite initial fears of surging oil prices and a worldwide recession, the global economy has 'pulled off the financial equivalent of a Mission Impossible scene,' said Michael Ashley Schulman, an investment strategist with Cerity Partners.
Oil prices did rise initially, but they have since stabilized. The US dollar strengthened against other currencies, which helped offset higher import costs for many countries. Meanwhile, some investors are even profiting from the war due to increased demand for safe-haven assets like gold and government bonds.
The uneven economic toll of the Iran war has left no corner of the world's economy untouched, but so far, the damage has been relatively contained. Options trader Marty Handler was quoted as saying nothing about this story in the source.