US Treasury Secretary Bessent says that the average tax refund 11% higher versus last year
- Oil prices will be lower than pre-conflict levels.
- Was asked about today's inflation and said he is looking through most of it.
- Almost 2,000 ships are waiting to come out of the Gulf and the oil market is set to be very well supplied.
- President Trump has said he's got several red lines, and Hormuz has to be free and open.
- Says he will not preview the Iran deal, nothing is on the table until the Strait is reopened
- Says Oman assured him that there are no plans to toll the strait
- Economy is facing challenges but unemployment is low, consumer spending is firm and tax refunds are up.
- On Iran, US has been patient, will continue defensive actions in Iran.
- Everything done thus far has been defensive.
- Patience with Iran is not forever.
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