Iran war fuels political backlash, inflation debate in the US
WASHINGTON: Rising inflation and persistent energy price pressures have sharpened political divisions in Washington, with Democrats blaming President Donald Trump’s Iran policy and trade agenda for worsening economic conditions for American households. The latest figures showing inflation at 4.2 per cent in May, compared with wage growth of 3.4pc over the same period, have revived concerns that real incomes are being eroded as the cost of living continues to rise. Senate Democratic leader Chuck Schumer criticised the administration’s handling of the economy and foreign policy in a sharply worded social media post. “Another month of Trump’s illegal Iran war, another month of Trump’s tariffs, another month of Republican control of Congress. The result? A new all-time high for Trumpflation,” he wrote. He also highlighted remarks by economist Heather Long of Navy Federal Credit Union, who warned that inflation was outpacing wages. “Infl...