What it will mean for the economy if the Strait of Hormuz stays closed

With shipping traffic at a near halt at the Strait of Hormuz, the possibility of prolonged disruption to supplies of oil and other important commodities has grown. The big picture: If the military situation doesn't change soon, it will create a moderate stagflationary drag on the U.S. economy and a substantial one on Europe and East Asia. If oil prices spike substantially further, it would likely
Source
Axios
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