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"Neither Iran nor Lebanese Hezbollah is at all likely to pursue such a course of action [a full-scale attack on Israel]."

"The fighting will remain contained between Israel and Iran, and will not persist for more than a few weeks."

"An all-out war between Israel and Iran is not inevitable, but it remains a serious risk."

"Israel & US manufactured a fake crisis with Iran that could lead to all-out war."

"There will be an all-out war between Israel and Iran and Iran will successfully disrupt flows through Strait of Hormuz."

"This [a wider Israeli war with Iran] is now more likely."

"[T]he Middle East is an inch away from an all-out war between Israel and Iran."

Will There Be a Full-Scale Israel-Iran War?

U.S. consumer prices fell 0.4% in June on a monthly basis, the largest single-month decline since April 2020, bringing the annual inflation rate down to 3.5% from 4.2% in May, according to the Bureau of Labor Statistics.

U.S. consumer prices fell 0.4% in June on a monthly basis, the largest single-month decline since April 2020, bringing the annual inflation rate down to 3.5% from 4.2% in May, according to the Bureau of Labor Statistics.

A 5.7% drop in energy prices drove the monthly decline, with gasoline falling 9.7% and fuel oil dropping 9.2%. Despite the monthly pullback, energy prices remained 15.7% higher than a year earlier, with gasoline up 26.7% annually.

A 5.7% drop in energy prices drove the monthly decline, with gasoline falling 9.7% and fuel oil dropping 9.2%. Despite the monthly pullback, energy prices remained 15.7% higher than a year earlier, with gasoline up 26.7% annually.

Core inflation, which excludes food and energy, was unchanged month-over-month in June and slowed to 2.6% annually from 2.9% in May. Shelter costs rose just 0.1%, the smallest monthly increase since January 2021, while food prices rose 0.2%.

Core inflation, which excludes food and energy, was unchanged month-over-month in June and slowed to 2.6% annually from 2.9% in May. Shelter costs rose just 0.1%, the smallest monthly increase since January 2021, while food prices rose 0.2%.

The June inflation easing is expected to be short-lived, as renewed U.S.-Iran hostilities have pushed oil prices higher. Brent crude climbed above $87 a barrel on Tuesday, and the national average for gasoline rose to $3.86 a gallon, up from $3.79 a week earlier.

The June inflation easing is expected to be short-lived, as renewed U.S.-Iran hostilities have pushed oil prices higher. Brent crude climbed above $87 a barrel on Tuesday, and the national average for gasoline rose to $3.86 a gallon, up from $3.79 a week earlier.

Following the CPI release, the CME FedWatch tool showed roughly an 86% probability that the Fed would hold its benchmark rate steady at 3.5% to 3.75% at its next meeting. The Fed is scheduled to make its next interest rate decision on July 29.

Following the CPI release, the CME FedWatch tool showed roughly an 86% probability that the Fed would hold its benchmark rate steady at 3.5% to 3.75% at its next meeting. The Fed is scheduled to make its next interest rate decision on July 29.

Federal Reserve Chair Kevin Warsh, in prepared remarks ahead of his first congressional testimony Tuesday, said the Fed has "no tolerance for persistently elevated inflation" and vowed that "the inflation surge of the last five years will be a thing of the past."

Federal Reserve Chair Kevin Warsh, in prepared remarks ahead of his first congressional testimony Tuesday, said the Fed has "no tolerance for persistently elevated inflation" and vowed that "the inflation surge of the last five years will be a thing of the past."

Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

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Economist

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Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

The Controversies

War

Ratings

Jr.

PhD

Kostohryz

Cook

Economist

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