The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans' finances: Higher interest rates.
Longer-term interest rates have risen quickly since the war began Feb. 28, pushing up the cost of mortgage loans, auto loans, and business borrowing. And with inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading. Wall Street investors instead see the odds rising of an actual rate hike instead.
