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Macro Economy•3 April 2026•

1 min read

NEC Director Warns of Oil Price Risks to US Growth Following March Jobs Report

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Key Facts

1NEC Director Kevin Hassett commented on the March US jobs report and its implications for the economic outlook.

2The US official discussed oil market supply disruptions stemming from geopolitical tensions involving Iran.

3There are concerns that rising oil prices could lead to a slowdown in US economic growth.

National Economic Council Director Kevin Hassett provided an analysis of the March US jobs report and its broader implications for the economic outlook. Speaking on Bloomberg Television, Hassett addressed the potential for oil market supply disruptions stemming from heightened geopolitical tensions involving Iran. The US official expressed concerns that sustained high energy prices could lead to a significant slowdown in domestic economic growth. While the jobs data showed resilience, the focus remains on how external shocks might impact the overall trajectory of the economy. Market participants are closely monitoring these developments as oil volatility continues to influence inflation expectations and monetary policy. The commentary highlights the delicate balance between a strong labor market and the risks posed by rising commodity costs.