Dave McCormick: “We're in this moment of enormous capital investment…”

“On one hand, we're in the middle of a conflict that's a shock. Shock to the oil markets is a big driver of the uptick in inflation. On the other hand, We're in this moment of enormous capital investment, unprecedented in our time, that's going to have significant effects on productivity. And as Kevin said in his testimony, he expects that productivity to be a big driver that will keep inflation in check.” (04:13–04:20)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.