U.S. Can Navigate Economic 'Rocky Waters': Deese

The transcript discusses the expected elevated CPI due to the Ukraine invasion's impact on energy prices. It covers efforts to mitigate inflation, including the release of oil from the Strategic Petroleum Reserve. The discussion also addresses global supply chain disruptions, particularly from the Shanghai lockdown, and the resilience of the U.S. economy amidst recession risks. Finally, it examines the economic impact of sanctions on Russia, highlighting the need for sustained efforts to maintain their effectiveness.

What is one of the main reasons for the expected elevated CPI print?

• Decrease in global oil supply

• Rising unemployment rates

• Impact of Ukraine invasion on energy prices

• Increased consumer spending

What action has the President taken to help mitigate rising energy prices?

• Implemented a nationwide fuel rationing system

• Subsidized electric vehicles

• Released oil from the Strategic Petroleum Reserve

• Increased taxes on oil companies

What industry is mentioned as crucial for addressing supply chain bottlenecks?

• Automobile

• Textile

• Semiconductor

• Pharmaceutical

How has the Shanghai lockdown affected the U.S. economy?

• Increased tourism

• Improved trade relations

• Boosted local manufacturing

• Disrupted supply chains

What is a key strength of the U.S. economy mentioned in the context of potential recession?

• Strong labor market

• High inflation rates

• Weak consumer spending

• Low GDP growth

What has been the impact of economic sanctions on Russia?

• Strengthened the Russian economy

• Improved Russia's global trade

• No significant impact

• Crushed the Russian economy

Why has the Russian ruble rebounded despite sanctions?

• Closed off economy and capital controls

• Increased foreign investments

• Improved trade with the U.S.

• Rise in global oil prices