Resilient economy faces mounting risks from Iran and inflation

CEI’s Senior Economist Ryan Young was cited by The National Desk relating to the economy and its response to Iran and inflation.

The economy grew at a 1.5% pace in the second quarter running April to June, a slowdown from the first three months of the year when the economy grew at a 2.1% clip.

“OK, meh — that’s the big picture,” said Ryan Young, senior economist at the Competitive Enterprise Institute. “We’re in for a period of low growth, and given the president’s tariffs and Iran concerns, we’re in for a period of higher-than-target inflation as well.

Consumer spending, which accounts for 70% of U.S. economic activity, climbed at a 3.2% pace in the second quarter. AI-fueled business spending was also strong in the second quarter, increasing 8.4%.

Later on in the article he says:

“The biggest fluctuations will be with Iran and Hormuz, and the starts and stops in hostilities,” Young said. “We don’t know how much longer that’s going to go on. It could outlast this administration. It could end in a month. Who knows?”

Read the full article at The National Desk.