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Home – Donald Trump News – ‘There’s No Question Prices Are Elevated’: Trump Official Addresses Small Businesses’ Economic Pain

‘There’s No Question Prices Are Elevated’: Trump Official Addresses Small Businesses’ Economic Pain

Elizabeth Troutman Mitchell

Small Business Administrator Kelly Loeffler acknowledged that Americans are facing increased prices but promised that the economy will improve after the military operation in Iran ends. 

“There’s no question in recent weeks, prices have bumped up because of rising gas prices due to the Iranian blockade of the Strait of Hormuz now,” Loeffler told The Daily Signal in an exclusive interview. “Obviously, with gas prices bumping up, that does ripple through the supply chain.”

But Loeffler said the administration is doing “everything we can in the meantime until the conclusion of this war, which we do believe is short-term, to continue to alleviate the pressures of the Biden administration.”

Loeffler called this a “short-term impact to what is a longer-term path,” adding that inflation will soon return to where it was before the war at 2.4%. 

“When we get through the other side of this war, we are going to get back to a more stable price environment than we........

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