JP Morgan Chase CEO, Jamie Dimon, told a left-wing media outlet- a rise in inflation, brought on by higher oil and gas prices, could be a "skunk at the party."
He says if the war drags on, this could impact prices at the gas pump, reversing Trump’s economic progress. Dimon added, he hopes this doesn’t happen.
As Operation Epic Fury continues, oil tankers passing through the Iranian controlled Strait of Hormuz, has now become a global threat for security as ships pass through the channel comprising 20 percent of the global oil prompting concerns this will drive oil and gas prices.
Financial Advisor, Richard Rosso, says higher oil prices can be inflationary however, President Trump- who has always stood on American oil independence, is clearly focused on the same principal amid the new development. “That’s the bottleneck that could be a real problem globally. The president said we are going to protect those ships. The US Navy will escort tankers through the strait. This changed the complexion of the market. As stocks were down too, until Trump’s announcement- that all changed.” Rosso said.
Rosso says temporary spikes are expected in a time of war. “Even Jamie Dimon said, this is temporary. Consumers have a longer-term memory than that.” The Financial Advisor points to increase from last week to this week in gas prices- as consumers zero in on “how gas prices affect me” taking notice as they pump gas from week to week. Followed by associations with the president sitting in office. The same goes for grocery store prices- the cost of eggs, beef, etc.
As usual, the leftist media wants to pounce without looking at data and running with a headline. Rosso says Dimon typically is in the middle and prefers to talk data over politics. “You would think the economy is falling apart when you watch certain newscasts; it's not true- when you look at the data.” Rosso said.
According to the report, Dimon agrees the war on Iran is necessary due to national security. “The most important thing is that we keep the Western world free and safe for democracy. And people like this have gotten away literally with murder for 50 years, that is far more important,” the JPMorgan Chase CEO said.
Let’s hope the Democrats can put America first and its national security. The murderous Iranian Leader Ayatollah Ali Khamenei ordered the killings of tens of thousands of his own Iranian people. Secretary of State, Marco Rubio, says U.S. Intel reported a nuclear plant that appeared to show evidence construction was not slowing down- allowing massive global destruction. Senate Republicans were successful blocking the War Power Resolutions Act introduced by Senator Tim Klaine (D-Va) restricting President Trump’s ability to carry out the war on Iran. The last 7 presidents turned a blind eye to this growing problem. The ongoing oppression of the Iranian people has gone on for almost half a century.