Summary
- Hassett said President Trump views the recent rise in energy prices and gasoline prices as temporary and short-term.
- Hassett said energy price fluctuations stem from geopolitical tensions and concerns over supply disruptions, but are not being seen as factors behind a sustained rise.
- With tensions in the Middle East and issues around crude shipments widening global energy price volatility and affecting fuel prices in the U.S., Hassett said the U.S. government is monitoring energy price trends.
Forecast Trend Report by Period
Kevin Hassett, director of the U.S. National Economic Council (NEC), said President Trump views the recent rise in energy prices as a temporary phenomenon, a remark reflecting the administration’s assessment of volatility in energy markets.
According to CNBC on the 6th (local time), Hassett said Trump regards the recent increase in gasoline prices as a short-term development.
He explained that fluctuations in energy prices are the result of recent geopolitical tensions and concerns over supply disruptions, adding that Trump does not see those factors as drivers of a sustained rise.
With tensions in the Middle East and issues surrounding crude shipments continuing, volatility in global energy prices has widened, affecting fuel prices in the United States.
The U.S. government is said to be monitoring energy price trends. Geopolitical conditions and changes in supply fundamentals are expected to be key variables going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
