Treasurer Jim Chalmers told ABC’s Insiders the US conflict with Iran has become an economic disaster that is raising global inflation and borrowing costs and weighing on growth. He said the Middle East war has significantly increased cost-of-living pressures worldwide, helping drive up interest rates. Asked whether President Trump should end the war immediately, Chalmers said he would not advise the US president but added the conflict should end as soon as possible, warning that the longer it co

Treasurer Jim Chalmers told ABC’s Insiders the US conflict with Iran has become an economic disaster that is raising global inflation and borrowing costs and weighing on growth. He said the Middle East war has significantly increased cost-of-living pressures worldwide, helping drive up interest rates. Asked whether President Trump should end the war immediately, Chalmers said he would not advise the US president but added the conflict should end as soon as possible, warning that the longer it continues the greater the hit to the global and Australian economies.