Panetta: Iran’s Grip on Hormuz Puts Pressure on US Economy

Leon Panetta, Former Defense Secretary under the Obama Administration, says Tehran’s control of the Strait gives it significant leverage and is driving inflation and fuel costs, making it central to negotiations. Panetta, who also served as White House Chief of Staff during the Clinton Administration, stresses the importance of restoring free passage through the Strait, questions lack of earlier military action, and warns regime change can’t be achieved through air power alone. He speaks with Kailey Leinz on the late edition of Bloomberg’s “Balance of Power.” (Source: Bloomberg)