NEC Director Kevin Hassett: An increase in oil prices doesn't cause an increase in inflation

I think Secretary Bess understands after looking at the meetings uh the Fed meetings and the minutes that there is disagreement amongst some of the governors about what the next move should be. Um if I were a governor then I would be saying that uh you know an increase in the oil price that's related to disruption uh in the Middle East is something that we've seen over and over again and it doesn't cause an increase in inflation. And it's just I still think that because the big supply shock that we're havin ...