Overview
- February’s U.S. report showed a loss of 92,000 jobs and an unemployment rate of 4.4%, underscoring deteriorating growth.
- Oil has jumped roughly 40% since the start of the war in Iran, with prices reported near $120 a barrel and renewed inflation pressure.
- The G7 and the International Energy Agency signalled readiness to coordinate one of the largest releases of strategic oil reserves in history.
- Chicago Fed President Austan Goolsbee warned the current mix of weaker growth and higher energy costs is a classic stagflation challenge for central banks.
- Economists raised stagflation odds and market bets now favor a Fed hold, while advisers recommend defensives and real assets, though some argue the threat is overstated.