War with Iran Hits American Wallets

Gas prices skyrocketed after the U.S. went to war with Iran, pushing inflation to its highest in nearly three years and squeezing household budgets. While Treasury Secretary Scott Bessent admits the economy is “challenging,” he points to eventual oil market recovery and strong consumer spending as buffers. Yet, first-quarter growth fell short of projections at just 1.6%, fueled mostly by wealthy consumers and AI investments — with economists warning consumer spending will slow as prices climb and incomes stagnate. Global turmoil is proving to have deep, everyday economic consequences. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dfb60e13579c03ed