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Roubini: Over 50% Chance of US-Iran War Escalation, Potentially Triggering 1970s-Style Oil Shock and Forcing Fed Rate Hikes
March 27th – “Dr. Doom,” Professor Nouriel Roubini of New York University, has issued a new warning: the probability of an escalation in US military action against Iran has exceeded 50%. If the conflict becomes prolonged, it could repeat the oil crisis of the 1970s, leading to runaway global inflation, forcing the Federal Reserve to resume interest rate hikes, and impacting global economic growth.