Asks if the weak jobs report is worse than it looks due to one-offs.
John Farrow
Kevin Hassett
The number is noisy due to weather, strikes, and new BLS model. Averaging with last month's strong number shows job growth consistent with 3-4% GDP growth.
Asks about the disruption to oil supply from the Middle East.
John Farrow
Kevin Hassett
Eyes are on the horizon: a more stable Venezuela and Iran will provide high, stable energy output, which is a huge positive for global markets.
Asks what remedies the White House has beyond telling people to wait.
John Farrow
Kevin Hassett
Sanction waivers are one of many tools in a flowchart. Ready to deploy them, but optimistic the near-term problem will be resolved quickly.
Asks if the SPR could be used to bring prices down.
John Farrow
Kevin Hassett
400 million barrels are ready, but no conversation to dip into it yet. Expectation is the Iran effort is ahead of schedule.
Asks how quickly tankers can get through the Strait of Hormuz with naval escorts.
John Farrow
Kevin Hassett
The military is studying it closely; a lot of progress has been made on a plan. Markets will move quickly once it's clear the US military has resolved the insurance and naval escort issues.