The conflict in Iran widens again over the weekend after global stocks and bonds sell off aggressively. Brent crude jumps again, and the US dollar strengthens. And consumer confidence falls in both the United States and New Zealand.

And then in our deep-dive interview, ANZ Economist Henry Russell looks at why the Fed is likely to look through the latest energy price shock, even though it was criticized for doing the same thing in 2022, when inflation failed to recede quickly.

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