The Iran conflict matters more for inflation than growth

Americans will see higher prices for energy in the weeks ahead. They aren't likely to see the kind of broad economic slowdown that has accompanied oil price shocks in the past. The big picture: That's the implication of early market moves following the U.S. and Israeli strikes. It follows logically from a reordering of global energy markets over the last two decades. Indeed, it's easy to imagine that this new geoeconomics of oil gave President Trump comfort in launching the attacks, grave risks