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Rising Oil Prices Threaten Economy, Impact Trump's Approval Ratings

3/19/2026

Summary

Story summary

EJ Antoni, once considered by U.S. President Donald Trump to lead the Bureau of Labor Statistics, warned the economy is unprepared for rising oil prices caused by the war in Iran.
He said the economy is weaker and inflation is worse than anticipated.
He noted energy costs will raise prices across the economy.
Oil prices recently surged above $100 per barrel.
Polling data show rising gas prices are hurting President Donald Trump's approval ratings.

Summary

Story summary

Oil prices have surged above $100 per barrel due to Iran's threats and disruptions in the Strait of Hormuz, raising concerns about U.S. stability.
Gas prices in Massachusetts rose 23% in one month.
Experts warn that prolonged high oil prices could lead to stagflation, complicating U.S. Federal Reserve policies.
The U.S. economy, already fragile, faces mounting challenges as the conflict continues without a clear resolution from U.S. President Donald Trump.

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Story summary

EJ Antoni, once considered by U.S. President Donald Trump to lead the Bureau of Labor Statistics, warned the economy is unprepared for rising oil prices caused by the war in Iran.
He said the economy is weaker and inflation is worse than anticipated.
He noted energy costs will raise prices across the economy.
Oil prices recently surged above $100 per barrel.
Polling data show rising gas prices are hurting President Donald Trump's approval ratings.

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