US inflation steadied in February, new data showed Wednesday, though economists’ attention has swiftly turned to the potential for price hikes stemming from the Middle East conflict.
The data suggested limited pass-through from President Donald Trump’s latest across-the-board tariffs, and while in one world he may have breathed a sigh of relief, the war in Iran rendered the new reading “pretty obsolete the moment it arrived,” an economic journalist wrote.
Wall Street was also quick to write off the report, with one strategist calling it “ho-hum.”
While Trump has shrugged off the economic blowback of the conflict, Americans are already facing the brunt of rising energy costs; gas prices are soaring.
