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Just In : KEVIN HASSETT: IRAN’S ECONOMY IS “COMPLETELY ON THE ROPES” WITH HYPERINFLATION AND FOOD SHORTAGES AS TRUMP’S PRESSURE MOUNTS
Just In : KEVIN HASSETT: IRAN’S ECONOMY IS “COMPLETELY ON THE ROPES” WITH HYPERINFLATION AND FOOD SHORTAGES AS TRUMP’S PRESSURE MOUNTS
Kevin Hassett laid out the brutal reality on Fox Business.
“Well if you look at the situation in Iran, the Iranian economy is completely on the ropes,” Hassett said. “They’re having hyperinflation, they’re running out of food.
A huge amount of the feed that goes into their animals is imported through the Gulf and having trouble getting through.
And so there’s an enormous amount of pressure for Iran to open up.”
He continued: “When they do, as you saw that President Trump really broke OPEC because UAE has left OPEC and have massive amount excess capacity.
So as soon as we get the Strait open that oil is going to flow like you’ve never seen before.
So I think futures markets expect prices to go down a lot but they are underestimating the effect of increased supply once the Strait is open.”
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