Episode Details

U.S. military strikes near the Strait of Hormuz sent oil prices soaring past $90 a barrel while markets dipped—despite August’s overall gains. Rising energy costs fuel stubborn inflation above the Fed’s 2% target, forcing policymakers to balance rate hikes with slowing job growth. Gas prices have averaged over $4 a gallon daily this August—the priciest on record—straining household budgets. With the Fed’s next rate decision looming and a key jobs report incoming, the economy teeters between cooling inflation and economic slowdown.

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