What Donald Trump's Strait of Hormuz Stance Could Mean for Your Social Security Benefits in 2027
A higher-than-usual benefits boost could be on the way.
Overview
After announcing a cease-fire deal in June, the conflict in the Middle East is back on, with strikes resuming and U.S. President Donald Trump reimposing a naval blockade. On July 13, oilprice.com reported that oil prices jumped "more than 8%" after Trump announced the blockade.
Aside from the immediate price jump, Trump's stance on the Strait of Hormuz and the seemingly inevitable oil price hikes the instability will cause is likely to have a trickle-down effect on Social Security benefits next year. Recipients are likely to see the largest cost-of-living adjustment (COLA) in recent years. Though that's not necessarily good news.
Image source: The White House.
Details
Source
Originally published at www.fool.com.