Rising energy costs may squeeze families, but not the economy

Rising energy costs due to the Iran conflict are expected to strain working-class families, but experts believe they won't push the U.S. economy into recession soon. Higher oil prices could impact consumer spending, especially on essentials, but households are currently in solid financial shape. Investment in technology and fiscal stimulus are supporting economic momentum. However, prolonged geopolitical turmoil may complicate inflation and interest rate decisions for the Federal Reserve. Economists suggest that significant demand destruction would only occur if oil prices rise substantially, potentially into the $150 per barrel range.