Moody's chief economist estimates the Iran conflict costs average American households nearly $2,000; White House refutes.
Mark Zandi, chief economist at Moody's Analytics, posted on X on October 12, estimating that the combined economic burden on the U.S. since the U.S. and Israel launched strikes against Iran on February 28 has reached approximately $265 billion, equivalent to nearly $2,000 per American household. Of this, increased energy and transportation costs account for about $1,100, higher borrowing costs due to interest rate hikes account for about $540, and military spending accounts for about $360. Anna Kelly, Principal Deputy Press Secretary for the White House, quickly refuted the estimate, questioning Zandi's political stance and the accuracy of his past predictions, and emphasized that President Donald Trump's actions were aimed at ensuring Iran could not possess nuclear weapons.
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