Kevin Hassett: We Had a Negative Shock on the Energy Again Because of the Houthi Attack on the Saudis

EXCERPT:

HASSETT: “Right. You’re absolutely right. What happened was that because the Houthis started attacking the Saudi pipeline and other Iranian proxies from Iraq were attacking refineries and so on, that we had a negative shock to energy again in September. Much of it has abated as we look at what the data look like now. But for sure, there was a top-line number that was disappointing, but inside the top-line number, there’s a lot of good news. So, food prices were flat. Drug prices, the biggest drops we’ve seen since the Second World War. You know, a lot of Trump policies are helping to keep inflation down, but the energy shock is really the headline story today.”