Inflation & Prices
Biden Adviser Sees Limited Inflation Impact From Red Sea Attacks
The oil tanker Marlin Luanda on fire after an attack in the Gulf of Aden in January.
Source: Indian Navy/AP PhotoThis article is for subscribers only.
President Joe Biden’s energy security adviser said the impact of Houthi rebel attacks on commercial ships in the Red Sea is limited and pledged continued US action to curb the Iranian-backed group’s ability to disrupt markets.
Cost pressures have been more on logistics than on energy commodities, Amos Hochstein said on CBS’s Face the Nation on Sunday. “The costs do go up,” Hochstein said. “But if you look at what they impact, the inflationary impacts are relatively muted.”