This is what the market believes about the Iran conflict, expert reveals

• EIA data shows U.S. crude inventories, including the strategic petroleum reserve, have fallen to a 40-year low.
• The market anticipates a short-term impact from the Iran conflict, expecting oil prices to drop back to the $70s, and gas prices potentially below $3/gallon, driven by a potential peace deal.
• Kevin Warsh's debut as acting Fed chair is seen as a move towards revamping the Fed, with new task forces focusing on inflation frameworks and the impact of AI on productivity and labor markets.

The discussion focuses on the positive economic impact of a potential Iran peace deal, which is expected to lead to lower crude oil and gasoline prices, potentially returning to pre-conflict levels. It also covers the debut of Kevin Warsh as the acting Fed chair, highlighting the need for the Fed to revamp its approach to inflation and productivity, with new task forces aimed at addressing these issues.