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Top Trump economic aide: ‘No, we’re not headed for a recession’ March 17th,2026  Donald Trump is no stranger to defying the odds, but his decision to launch an offensive in Iran is perhaps one of his riskiest gambits in terms of its economic repercussions. The US president appears to base much of his strategy for the upcoming midterm elections in November on his ability to lower the cost of living, leveraging the only tool he had indirect control over: oil prices. By launching "Operation Epic Fury," he has chosen a path that could lead to a dramatic surge in crude oil prices in the coming weeks. This risks reigniting inflation, which plagued his predecessor, Joe Biden, and played a significant role in Trump's return to power in 2024. Prices are already on the rise, even though they remain below peaks reached during previous conflicts. Brent crude, the European benchmark, has jumped 20% since Friday, February 27, surpassing $80 (€68.9). West Texas Intermediate (WTI), the US benchmark, climbed 18% to $79 (€68). |