The director of the White House National Economic Council, Kevin Hassett, mentioned that US President Donald Trump signaled that peace negotiations with Iran will take place, amid the new impasse in the Middle East conflict after Tehran once again closed the Strait of Hormuz.
In an interview with CNBC this Monday, 20, Hassett stated that Trump’s posts on Truth Social have reflected progress in relation to the war. “At the beginning, the president said that in four to six weeks this could be resolved, and I think we are getting very close to that,” he said.
Started on February 28, the conflict in the Middle East has already reached its seventh week.
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Still in relation to the geopolitical situation, Hassett projected that, looking ahead, the price of oil should fall due to the high production of the commodity by the USA and, with a new reopening of the Strait of Hormuz, the risk premium will also fall.
The director passed on the news of the The Wall Street Journal that the United Arab Emirates (UAE) has started talks with the US about obtaining American financial support if the war with Iran plunges the Persian Gulf country into an even deeper crisis, with the possibility of a currency swap line.
For Hassett, the UAE has been an “incredible” ally and, therefore, US Treasury Secretary Scott Bessent wants to help.
Among other topics, Hassett addressed the hearing of the Federal Reserve (Fed) presidential nominee, Kevin Warsh, in Congress, on Tuesday, and said that confirmation should happen “as quickly as possible”. “Warsh has strong credentials. After the hearing, people will see how good he is,” he added.
