In its monthly assessment of the economy, the U.S. Federal Reserve must take into account developments in the war in Iran, such as the closure of the Strait of Hormuz, along with the usual domestic factors, including job growth. The decision to keep rates the same in April reflects the tension between the escalating conflict in Iran and the labor market.

Increasing gas prices have widespread economic consequences, specifically with higher fuel costs increasing inflationary pressures and elevating the costs of goods. With gas being a core input for transportation and production, a rise in price means businesses face higher costs, which are then passed on to consumers.

On April 15, a jury in the Southern District Court of New York found Live Nation Entertainment, the leading enterprise in the live event space, guilty of violating antitrust laws. Live Nation’s consolidation of market power allowed the company to achieve extremely high profits at every stage of the live event production process. The recent District Court ruling ultimately brings a glimmer of hope for concertgoers, as there is now increased pressure on Live Nation to end dynamic pricing and enact structural changes to its business model.

Iran has officially named Mojtaba Khamenei the supreme leader following his father’s death, but their leadership may still be due for a tremendous change. Exiled Crown Prince Reza Pahlavi hopes the turmoil of war will elevate him to power, transforming the country and its government.

Despite President Trump’s threats to withdraw from NATO, there are significant legal barriers he must go through, making such a move unlikely in the near future. Still, his remarks have heightened tensions with NATO allies who are cautious about supporting US military operations in Iran. As the United States expands its presence in the Middle East, the cohesion among NATO member states may be compromised, with international lawmakers monitoring whether or not Trump’s rhetoric will manifest itself in the form of policy.