The head of the world’s biggest bank, JPMorgan Chase, has warned the world will face “significant” interest rate shocks as a consequence of Donald Trump’s war on Iran.
Jamie Dimon said spiralling oil and gas prices, which have skyrocketed following Iran’s blockade of the key shipping lane, the Strait of Hormuz, and its attacks on regional energy infrastructure, would lead to “stickier” inflation that could push up interest rates.
