Washington: US President Donald Trump has said the American economy remains resilient despite the ongoing conflict with Iran, asserting that oil prices and stock markets have held up better than expected during the crisis.
In an interview with Fox News at the White House, Trump pointed to stable energy prices even as tensions escalated in the Gulf. “If you told me that we were gonna be at only 92 a barrel… I would’ve been very surprised,” he said, noting that many had predicted a surge to $200 per barrel.
He expressed confidence that prices would fall sharply once the conflict ends. “Gasoline’s coming down very soon and very big,” Trump said, adding that energy costs would ease across the board.
The President acknowledged short-term disruption but downplayed longer-term risks to growth. “There’s a hit because… we go through it for whatever it is, six weeks. There’s gonna be a hit, but it’s gonna recover,” he said.
Trump also highlighted the relative stability of US financial markets, despite volatility earlier in the year. “If you told me that in the midst of it… we’d have a stock market that’s almost as good as it was two months ago… I think we’re doing very well,” he said.
Looking ahead, he predicted a strong rebound once hostilities subside. “When this is over, I think the stock market is gonna boom,” Trump said.
The President tied economic performance to his broader geopolitical strategy, arguing that military action was necessary to prevent a larger crisis. He warned that allowing Iran to develop nuclear weapons would have far more severe economic consequences.
On domestic policy, Trump pointed to tax changes under his administration as cushioning households from rising costs. “People are getting refunds of 5,000, 8,000, $11,000 that they had no idea they were getting,” he said.
He also maintained that energy costs would remain a central factor in economic stability. “It fuels sort of everything… it fuels the economy,” Trump said, linking lower oil prices to broader economic gains.
The comments come as global markets remain sensitive to developments in the Strait of Hormuz, through which a significant share of the world’s oil supply passes. Any disruption in the region has immediate implications for global energy prices and inflation trends.
(IANS)
