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Gristedes and also D'Agostino Foods Chairman and CEO John Catsimatidis discusses the effect of record-high oil rates on the overall economy. #FOXBusiness #MorningsWithMaria

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Gristedes chief executive officer John Catsimatidis weighs in on the impact of supply chain hold-ups, rising inflation, as well as the prospective candidates for 2024 election.

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JOHN CATSIMATIDIS: "It's a multiple option of things taking place. First off, you have omicron. Second of all, now you have the climate in addition to it. Third of all, you had the rate of petroleum– it's 83, 84, 85, 86 dollars going to. And also if Russia shakes a little bit around and imagines they're going to assault Ukraine, you can have $100 oil and also Mr. Putin will be giggling all the way to the financial institution. So what's taking place in our country is omicron is maintaining a great deal of people house in the Midwest and also a great deal of locations, tiring the ability of stockrooms to equip the item, load the item, and also put it on the trucks that deliver to the stores. Currently, what's going on? There's a scarcity of truck vehicle drivers, so it produces an entire system of troubles."

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FOX Service Network (FBN) is a financial information network delivering real-time details throughout all systems that impact both Main Road and also Wall Surface Street. Headquartered in New York– the business funding of the world– FBN released in October 2007 and is one of the leading company networks on television, having covered CNBC in Company Day customers for the 2nd consecutive year in 2018. The network is available in virtually 80 million houses in all markets throughout the United States. Possessed by FOX Company, FBN is an unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

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