12 vessels passed through the Strait of Hormuz during thefirst two days following the US-Iran ceasefire announcement, Maritime datashowed on Friday, alongside a limited resumption of air traffic after weeks ofdisruption caused by regional tensions.
White House economic adviser Kevin Hassett said the USFederal Reserve could move to cut interest rates once the reopening of theStrait of Hormuz leads to a rapid decline in energy prices. In remarks to FoxBusiness, Hassett said energy prices are expected to fall quickly as thewaterway reopens, adding that lower energy costs would help ease inflationarypressures. He noted that such developments would strengthen expectations forthe Federal Reserve’s ability to reduce interest rates in the near term.
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