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Macro Economy•30 April 2026•

1 min read

Gary Cohn Warns Rising Oil Prices Will Dampen U.S. Consumer Spending Power

Key Facts

1Gary Cohn stated that rising oil prices will have a negative impact on the purchasing power of U.S. consumers.

2The former NEC Director discussed the implications of the Iran conflict on energy prices and AI capital expenditure spending.

Gary Cohn, former Director of the National Economic Council, has warned that rising oil prices are set to negatively impact the purchasing power of U.S. consumers. Speaking with CNBC, Cohn highlighted that energy price volatility, exacerbated by geopolitical tensions involving Iran, effectively acts as a tax on household budgets. He further discussed how these macroeconomic risks influence capital expenditure, particularly within the burgeoning Artificial Intelligence sector. These remarks come as the market remains highly sensitive to the Federal Reserve's interest rate outlook and overall economic stability. The potential squeeze on disposable income suggests a cautious outlook for the retail and consumer discretionary sectors in the near term.