Moody's top economist Mark Zandi says: America has a week to secure peace deal

Key points

• Mark Zandi feels that peace deal must happen quickly Flattening options for US President Donlad Trump Probability of recession rising Mark Zandi warns of high risk of recession in America America has just days to secure a peace agreement with Iran or risk sliding into recession, according to Moody’s chief economist Mark Zandi.
• According to a report by Business Insider, speaking to Bloomberg, Zandi said that the increase in oil prices triggered by stalled negotiations has pushed the US economy to a critical threshold.
• Recently, Iran announced that it would halt negotiations and block the Strait of Hormuz until the important demands are met, sending Brent and US crude oil prices up by about 7%.
• This disruption threatens global energy supplies and has already driven the US national average gas price to $4.32 per gallon.
• Zandi has warned that if the prices climb to $5 per gallon, then consumer spending...