President Donald Trump says the U.S.-Iran ceasefire is "over," but that talks can continue. The U.S. says Iran violated a memorandum of understanding when it attacked three tankers in the Strait of Hormuz, sparking additional back-and-forth attacks. So what happens to oil prices, traffic through the Strait of Hormuz, and prices at the pump now? Also on the show: the problem that comes when consumers keep anticipating price increases.
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Stories featured in this episode:
Trump says the U.S.-Iran ceasefire is "over." What's that mean for prices?
Fed survey shows rising inflation expectations, despite falling prices