White House economic advisor Kevin Hassett said on Friday that the Federal Reserve will be able to cut interest rates once the reopening of the Strait of Hormuz leads to a rapid drop in energy prices. Hassett told Fox Business: «There will be a rapid drop in energy prices as soon as the strait is reopened. And once energy prices start to fall, don't forget that this will create pressure that pushes inflation down... I think the expectations about the Federal Reserve's ability to cut interest rates will be very strong».
