Biden to Drain Strategic Oil Reserves to Fight Inflation

Inflation as measured by PCE hit a fresh record in March which pushes the Fed even further into a bind as they need to fight inflation, especially given the jobs numbers right now. In a move to combat rising prices, Biden will be releasing 1 million barrels of oil per day from the strategic reserves. This put short term pressure on the price of oil but it is yet to be seen the long term impact.

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0:00 Intro
1:05 New Inflation Record
4:58 Oil Release
7:35 Unintended Consequences

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