Keep it secret: The dollar’s not safe

Sander Tordoir, chief economist at the Centre for European Reform, thinks that ...“The longer the war drags on, the higher the political cost for the president: rising petrol prices at the pump, financial market volatility, higher US borrowing costs, and damage to US allies in the Gulf,” Tordoir said. “Trump needs an off-ramp, and he needs it fast.”

“Unlike with tariffs, [which] the US can impose or retract unilaterally, Trump needs other actors, most notably Iran itself, to go along with the off-ramp,” Tordoir said.