Gary Cohn says prices are "not going to fall like a rock overnight" if Iran deal is signed
Summary
Gary Cohn, who worked for President Trump as the head of the National Economic Council, said that if the U.S. and Iran sign a truce, prices will not drop quickly. He explained that the situation around the Strait of Hormuz, a key shipping route, will still affect prices.Key Facts
- Gary Cohn is IBM’s vice chairman and led the National Economic Council under President Trump’s first term.
- He spoke on the show "Face the Nation" with Margaret Brennan.
- Cohn said prices won’t fall sharply right after a U.S.-Iran truce.
- The Strait of Hormuz’s situation remains important for price changes.
- The Strait of Hormuz is a vital waterway for global shipping and oil transport.
- The U.S. and Iran are considering a deal to reduce tensions.
- Economic impacts depend on how the truce affects this key region.
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