Gasoline & Kevin Warsh

Gasoline: Gasoline prices have climbed significantly across the United States, driven by the global energy crisis caused by the Iran war and the constrained Strait of Hormuz, impacting consumer spending and sentiment.

Kevin Warsh: Kevin Warsh, the new Chair of the United States — Federal Reserve, is known for his hawkish stance on interest rates and has emphasized the threat of elevated inflation, which is a direct consequence of the Iran war.