The Globe and Mail reports in its Monday edition that it is unclear what President Donald Trump aims to achieve with Saturday's Iran attack. Guest columnist John Rapley writes that given the upcoming challenging elections for his party, this military action carries significant economic risks with no clear benefits. Unlike in Venezuela, Mr. Trump has not claimed the attack is about oil, and it is difficult to see how it could be. Without a lasting occupation, the U.S. could not control Iranian oil output. However, the effects on Iranian exports and regional shipping will raise global oil prices in the short term. Most indications suggest the Iranian regime may be humbled or destroyed by the war, but analysts predict prolonged instability rather than a quick resolution. As long as instability persists, energy markets will face pressure from the artificial intelligence boom, driving up electricity prices and keeping U.S. inflation from falling. It is looking increasingly questionable that the Federal Reserve will cut interest rates much, if at all, this year, and it may even end up raising them. Higher interest rates will, in turn, put a brake on economic growth at the very time there are signs it may be slowing.