White House says ships are proceeding through Strait of Hormuz at about 10% of normal pace

Kevin Hassett, director of the White House's National Economic Council, said on Friday the 10th of april that futures markets were anticipating a "rapid reduction" in energy prices once the Strait of Hormuz operates normally. Right now, the strait is only operating at about 10% of normal pace, he said. 

"There are boats going through right now, but at about 10% of the normal pace," he told Fox Business on Friday morning.

The White House is trying to assuage markets and consumers after the Consumer Price Index report released Friday found that inflation soared last month. 

"As the administration ensures the free flow of energy through the Strait of Hormuz, the American economy remains on a solid trajectory thanks to the Administration's robust supply-side agenda of tax cuts, deregulation, and energy abundance," White House senior deputy press secretary Kush Desai wrote on social media Friday.