According to Jefferies economist Kumar on May 11, the U.S. and Iran remain locked in a stalemate following mutual rejection of ceasefire proposals. Iran continues to refuse dismantling its nuclear program—a key Trump administration demand—while the Strait of Hormuz remains effectively closed. Kumar noted that while the U.S. economy shows resilience unaffected by the conflict, Iran holds a time advantage; its willingness to endure may outlast Trump’s patience for a resolution.
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