GOBankingRates President: 8 Reasons Trump Ending the Russia-Ukraine War Could Be Good for Your Wallet
Written by
Gabrielle Olya
Edited by
Molly Sullivan
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
President Donald Trump is hoping to help negotiate a deal that will put an end to the Russia-Ukraine War, a move that could restore peace in the region and also have ripple effects on the American economy. According to the International Monetary Fund, “the war … greatly compounds a number of preexisting adverse global economic trends, including rising inflation, extreme poverty, increasing food insecurity, deglobalization and worsening environmental degradation.”
If Trump successfully helps to put an end to the war, it could end up benefiting your wallet, according to Jeff Bartlett, president and co-founder of GOBankingRates. Here are all the ways Bartlett believes an end to the Russia-Ukraine war could be good for your finances.
Lower Gas Prices
U.S. gas prices increased by 42% during the first year of the war, CNN reported.
“The war has disrupted global oil supplies, driving up gas prices,” Bartlett said. “A resolution could stabilize markets and lead to lower fuel costs.”
Reduced Inflation
The ongoing war “contributed significantly to the painful acceleration in global inflation,” The Nation reported.
“Supply chain disruptions and rising energy prices due to the war have contributed to inflation,” Bartlett explained. “Ending the war could help stabilize prices on goods and services.”
Stronger Stock Market
War-related uncertainty has led to market volatility.
“A peaceful resolution could boost investor confidence and lead to stock market gains,” Bartlett said.
Lower Food Prices
Ukraine is a major global supplier of wheat and other agricultural products.
“Ending the war could restore supply chains and reduce food costs,” Bartlett said.
Improved Global Trade
The Russia-Ukraine war has also greatly impacted global trade, including trade into and out of the United States.
“With fewer sanctions and trade restrictions, businesses could operate more efficiently, reducing costs for consumers and companies alike,” Bartlett said.
Stronger US Dollar Stability
The war has led to volatility in the value of the dollar.
“Less geopolitical tension could help stabilize the U.S. dollar, improving purchasing power and reducing costs for imports,” Bartlett said.
Lower Interest Rates
The war’s contribution to high inflation has had a ripple effect on interest rates.
“If inflation decreases, the Federal Reserve may be less aggressive in raising interest rates, making borrowing — such as mortgages and car loans — more affordable,” Bartlett said.
Increased Business Confidence
“Companies hesitant to invest due to economic uncertainty may be more willing to expand, create jobs and raise wages,” Bartlett said.
This would benefit both small-business owners and employees.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
