The recent airstrikes by Israel in Iran are not expected to have a significant impact on the U.S. economy, according to leading economists. What Happened: Although potential risks remain, the U.S. economy’s current outlook appears relatively stable,

A prolonged Israel-Iran conflict could push oil prices sharply higher, potentially prompting the Federal Reserve to either hasten rate cuts due to an economic slowdown or delay them to combat rising inflation.

Despite not relying on Iran for its oil supplies, petrol and other prices in Australia will rise due to the global impact of the Israel–Iranian war.

The Israel-Iran conflict could cause world-wide economic turmoil. What this could mean for Long Islanders? Newsday reporter Brianne Ledda reports.