Hassett acknowledged that grocery prices have improved, but electricity prices remain high, along with health insurance and airline fares, indicating ongoing inflationary pressures.
"According to my calculations, those first few days cost at least $16 billion. We are spending down munitions at an extraordinarily fast pace-to put it in perspective, we fired more Patriot missiles in the first four days of the Iran war than we have given to Ukraine over the past four years."
The conversation reveals that the ongoing conflict raises critical questions about the motivations behind US foreign policy, particularly regarding Israel's role in shaping military strategies.
Forecasters now predict that the coming El Niño—a warming of the Pacific Ocean that deeply affects global weather patterns—is likely to be as severe as the one in 2023-2024, which triggered severe flooding and prolonged heatwaves around the world.
Countries are increasingly settling aside old grudges to lessen their reliance on Washington. As Donald Trump continues to unleash havoc on allies and trading partners, countries are scrambling to forge new alliances and mend broken ones as they try to shield themselves from a mercurial American president. The past few months have seen a flurry of diplomatic moves by governments seeking to lessen their reliance on the United States, including among countries that had long nursed grudges against one another.