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Analyst Louis Navellier of Navellier & Associates stated in a report that interest rates have become extremely sensitive to energy prices, and once the Strait of Hormuz resumes navigation, rates are expected to significantly decrease. He pointed out that until then, upward pressure on inflation will continue to exist and added that any rate cuts by the Federal Reserve will be delayed until the recent surge in energy inflation subsides. Navellier said, "If the Strait of Hormuz remains blocked for another month, energy prices will almost certainly rise, pushing up inflation and rates." He also noted that this could pose problems for the US midterm election cycle, as historically, midterm elections tend to trigger market downturns. "Trump is facing pressure to quickly 'resolve' the Iran issue," he said.