Former Trump economic advisor: Rising oil prices are enough to trigger an economic recession

格隆汇 March 20｜Amid soaring oil prices caused by the US-Iran war, Gary Cohn, former chief economic adviser to ex-President Trump, has issued a fresh warning about an economic recession. He said in a recent program: "(Rising gasoline prices) will absolutely lead to a recession in the short term." "For consumers, nothing is more direct than standing there holding the gas nozzle, watching the numbers tick up on the pump... If they spent $80 a week ago, $85 this week, and $60 a month ago, they know, 'I lost $20 of disposable income just to fill up this tank.'" "If you refuel four times a week, that means $80 of your after-tax disposable income comes out of your pocket. That amount is enough to decide whether you take your family out to eat several times a week, or simply don't take your family out to eat at all."