Attack on Iran drives oil market shift
The United States and Israel launched missile attacks on Saturday that killed at least a half dozen high-ranking leaders of the Iranian government, including Supreme Leader Ayatollah Ali Khamenei, after American officials cited a lack of progress in talks regarding Iran's nuclear program.
The aftermath of the attack saw an initial spike in global oil prices and roiling stock futures. A report from Oxford Economics said the uncertainty about the duration of the conflict and the nature of a regime change in Iran poses risks, including rising energy prices and "adverse" financial market responses.
A spike in oil prices raises the prospect of inflation and potential delays in the U.S. Federal Reserve's interest rate decreases, according to Oxford Economics. Periods of uncertainty can push prospective buyers into a wait-and-see mode, making them less likely to commit to long-term purchases.
As attacks increased late Sunday, crude oil prices rose to surpass $73 overnight on concerns that there could be an Iranian supply disruption, CNBC reported. As of Monday afternoon, crude oil prices sit north of $72 a barrel.
Affordable housing association highlights positive impact of CDFIs
The National Association of Affordable Housing Lenders championed Community Development Financial Institutions in a Monday policy brief.
The report, which highlights the impact of such groups on rural, Tribal and low-income neighborhoods, comes amid political discourse over CFDIs.
Last month, Congress approved a $324 million allocation to the CFDI Fund, following proposed cuts from President Donald Trump.
The 26-page brief warned that if federal support for the CDFI Fund weakens, it could have an adverse effect on local economies by limiting access to affordable housing and small-business development funding.
"CDFIs play a critical role in bridging the gap in capital for communities that have historically been marginalized in the financial system,” said Sarah Brundage, president and chief executive officer of NAAHL, in a statement.
The NAAHL is hosting a webinar on March 12 where industry leaders will outline how traditional financial institutions and CDFIs can scale financial access into communities.