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The U.S. Economy Was Shaky Before the Iran War. Now It's in Real Trouble. | Council on Foreign...

While the U.S. economy grew strongly in 2025, it is currently on shaky ground. Spiking inflation, static interest rates, the ongoing Iran war, and other dynamics have contributed to a difficult economic moment ahead of midterm elections in November.
Roger W. Ferguson Jr. is the Steven A Tananbaum Distinguished Fellow for International Economics at the Council on Foreign Relations. Maximilian Hippold is a research ***** ociate at CFR.
Iran’s closure of the Strait of Hormuz after the February U
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