What happened
The director of the U.S. White House National Economic Council, Hassett, described current high oil prices as a short-term phenomenon.
The remark was reported by Eastern Wealth Network on September 4, 2026.
Why it matters
The comment suggests the White House views the recent oil price rise as temporary rather than a lasting economic shift, which could shape expectations about future policy responses.
It also signals that the administration may be cautious about reacting aggressively to price spikes, betting instead on market stabilization.
Key facts
Hassett is the director of the White House National Economic Council.
Hassett said high oil prices are a short-term phenomenon.
The statement was published by Eastern Wealth Network.
What to watch next
Observers may watch whether oil prices ease in the coming weeks, and whether other U.S. officials voice a similar outlook.