Asks about the situation in Iran, its impact on oil prices and inflation, and the duration of the Strait of Hormuz closure.
Becky
Kevin Hassett
States the US is ahead of schedule in a 4-6 week war, is optimistic it will end soon, and has plans to manage economic disruptions.
Clarifies the timeline: weeks, not months?
Becky
Kevin Hassett
Confirms the war will end in weeks, not months.
Asks for his WTI price forecast, noting other analysts don't see a return to the $60s soon.
Becky
Kevin Hassett
Points to futures markets predicting a drop to the $60s by fall and even the $50s later, and believes ending Iranian terrorism will remove a risk premium, driving prices down long-term.
Asks what 'seeing it through to the end' means.
Becky
Kevin Hassett
Defines the goal as ensuring Iran cannot harm its neighbors or the US again, which involves destroying military capabilities.
Asks about political pressure from more energy-reliant allies and potential import price increases.
Becky
Kevin Hassett
Acknowledges Asian economies might pull refined product exports back home, but the US has a plan and its own sound energy production.
Asks about the impact on China's economy and relations.
Becky
Kevin Hassett
States US and Chinese objectives are aligned on stable oil markets, and resolving the Iran problem will help China.
Asks for a more specific timeline (10, 30, 60 days).
Becky
Kevin Hassett
Reiterates the 4-6 week base case (currently in week 3) and states the US economy is sound enough to withstand a longer conflict if necessary.
Asks about the plan to secure fertilizer and helium supplies disrupted by the Strait closure.
Becky
Kevin Hassett
Details efforts to find alternative fertilizer sources from Venezuela and Morocco to minimize disruption for US farmers.