You Can’t 25bp a Chokepoint: What Iran’s Viral Equation Says About Energy, Inflation — and Why Canada Matters
Iran’s Parliament Speaker mocked the Federal Reserve by adding the Strait of Hormuz and Bab el-Mandeb to the famous Taylor Rule. Behind the joke is a serious question: what happens when inflation is caused by an energy shortage that interest rates cannot fix? The answer also reveals why Canada’s oil, gas, uranium and electricity are becoming increasingly strategic.