Miner Company
Economists Warn Rising Oil Prices May Push U.S. Into A Recession
The Federal Reserve, which previously warned in 2001 that rising oil prices usually precede most recessions, noted the U.S. economy has become more resilient in recent decades and is better positioned to absorb the blow of higher energy costs. Economists from Vanguard and Wells Fargo both argued a short-lived surge in oil prices wouldn't be enough to disrupt the economy, even if a “sustained rise” in energy costs weakens income growth.
The Federal Reserve, which previously warned in 2001 that rising oil prices usually precede most recessions, noted the U.S. economy has become more resilient in recent decades and is better positioned to absorb the blow of higher energy costs. Economists from Vanguard and Wells Fargo both argued a short-lived surge in oil prices wouldn't be enough to disrupt the economy, even if a “sustained rise” in energy costs weakens income growth.