US-Iran War Enters Sixth Month as Attrition: IMF Cuts Global Growth Forecast to 3.0% for Second Time This Year

The US-Iran conflict has lasted six months and evolved into a war of attrition, disrupting the Strait of Hormuz and keeping oil prices elevated. The IMF has downgraded its global economic growth forecast for this year to 3.0%, a further decline from the 3.3% projection in January. The fighting has severely drained US ammunition and military readiness, while Trump's approval rating has fallen to 33%, putting pressure on the midterm elections.