Right now we are living through some of the most tumultuous political times our country has ever known.

I'm David Remnick, and each week on the New Yorker Radio Hour, I'll try to make sense of what's happening,

alongside politicians and thinkers like Cory Booker, Nancy Pelosi, Liz Cheney, Tim Walts,

Katanji Brown Jackson, Newt Gingrich, Robert F. Kennedy Jr., Charlemagne the God,

and so many more. That's all in the New Yorker Radio Hour, wherever you listen to podcasts.

The latest in the Iran War and how the U.S. Forest Service is getting pruned.

From Marketplace, I'm Sabri Banishore in New York. First, peace talks between the U.S. and Iran are still stalled, although Iran has reportedly floated the idea of reopening the Strait of Hormuz in exchange for the U.S. ending its blockade of Iranian ports. That's according to Axios. Meanwhile, Iran's foreign minister is in Moscow for talks with Vladimir Putin. The price of oil is at a three-week high. Stock markets are mostly stable,

and Jane Foley is head of foreign exchange strategy at Rabobank in London is here to talk about it.

Welcome. It's great to be here. So, you know, deal, no deal, straight's open, straights closed, at this point, who knows, right?

So are markets even factoring in day-to-day developments in the war anymore?

Well, certainly there's less volatility than there was at the very beginning.

But the markets do seem to be primed to take a more optimistic view. As long as there is

progress towards talks, well, it does appear that many investors do seem justified in taking

this glass half full approach. Markets might be tilting towards optimism, but markets are not the economy.

So what signs do we have about how the economy, the U.S. economy, is dealing with, you know, sustained high gas prices and other supply chain disruptions?

Well, there are products which demand quite a lot of energy to produce.

So the impact on consumers in the US, but also elsewhere, is going to be marked, even if there was

a resolution almost immediately. But what we must say also is that the impact on consumers in the

US will almost certainly be

less than consumers elsewhere. Asia, for instance, emerging Asia, particularly vulnerable, Europe,

more vulnerable than the US because it's an energy importer. But then longer term, I suppose what

this will do, it will loosen the progress that has been made everywhere

...