The ongoing conflict in the Middle East and problems with fuel supplies will do no serious harm to the US economy, even if they last for a long time, Kevin Hassett, director of the National Economic Council at the White House, said, APA reports.
"If it did last for a long time, it wouldn't really do a lot of harm to the US economy," he told Fox News when asked whether the disruption of fuel shipments via the Strait of Hormuz could trigger an economic recession in the United States.
He acknowledged however that the US administration will have to find solutions to a range of economic problems stemming from the Middle East conflict.
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