The United States economy is walking a kind of tightrope, but the odds favor the US because its economy has faced this kind of careful walk before.
The war in Iran to eradicate a threat to the entire Middle East brings higher oil prices at a time when the economy has been slowing a little but is still strong, but it's bringing changes to financial markets.
Texas economist with the Perryman Group, Ray Perryman, says "we have this situation where prices are going up and we're seeing a slower economy so it makes things a little difficult" for the Federal Reserve.
One of the biggest changes is also one of the biggest challenges for the Trump administration -- what to do with interest rates.
Raising the benchmark Fed rate would likely benefit the economy if inflation is rising, but dropping the interest rate is what President Trump wants the Federal Reserve chairman to do.
Current Chairman Jerome Powell hasn't done that, so President Trump wants Kevin Warsh as the new Fed chair.
Warsh, however, has not been confirmed as the new chairman, and that may be a good thing considering whatever decision he makes when he takes office will likely be monumental and perhaps even painful because of the worldwide economic impact expected.
"So when you put all of it together, it's likely inflation's going to remain higher, which will prevent the Federal Reserve from being able to lower rates.
Lowering rates could stimulate the economy but also could set off inflation --raising them could cool off the economy but rein in inflation.