The U.S. Is Insulated, But Not Immune To The Middle East Conflict

ING Economic and Financial Analysis5.22K FollowersFollow5ShareSavePlay(5min)CommentsSummaryThe US is a net energy producer, but higher oil, gas and electricity prices risk amplifying the effects of trade tariffs, resulting in squeezed household spending power and a weaker corporate profits backdrop.Economic and geopolitical uncertainty won't prompt a rebound in worker hiring either, but inflation will limit the scope for imminent rate cuts.The lack of breadth to the US growth story may become more of a vulnerability in the second half of the year. Tomas Ragina/iStock via Getty Images By James Knightley, Chief International Economist, US Higher energy costs compound tariff concerns The US has been a net energy exporter since 2019, and while that should insulate the economy from oil and gas flowThis article was written byING Economic and Financial Analysis5.22K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.