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Text show to 33-777-7. Welcome to the Eric Erickson Show podcast, Our Three.

Hello, America.

It is Eric Erickson here across the United States. The full number is 877-973-725, should you wish to be on the program. There is some breaking news. You should know it's happening right now. The Federal Reserve meeting has said it intends to hold rates steady.

It's not going to cut rates. That there are uncertain impacts from the Iran war as a result.

They do think that spiking oil and inflation angst complicate what's happening.

Inflation did spike last month.

That is a concern.

They believe it may just be a temporary thing.

However, concurrent to all of that, oil prices are up.

West Texas is at $96 a barrel.

Brent crude is at $106 a barrel. Natural gas has gone up just so you know. This is where we are.

The president has waived the Jones Act, which we should just get rid of, for 60 days to set of the oil markets, which has helped a little bit.

The Jones Act says that only American carriers can transport between American ports.

The problem is there are hardly any American ships that are Jones Act compliant.

And as a result, we don't have enough ships to transport oil from the East Coast to the West Coast.

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