Stimulus Unlikely to Counter Rise in Oil Prices
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Just at the moment the U.S. economy could use a boost, the recent surge in oil prices is having the opposite effect.
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WASHINGTON -- A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions. That could keep gasoline prices high, possibly for years to come.
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High oil prices do not mean a rerun of the damage caused by the "oil shocks" of the 1970s, Fed chief Alan Greenspan says.
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Near-record oil prices will slow US economic growth but won&#39;t be enough to derail a self-sustaining expansion, US Federal Reserve officials said on Monday.
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ALBUQUERQUE, N.M.  - High oil prices will probably  brake U.S. growth but will not derail the economy provided they  do not rise sharply from current levels, top Federal Reserve  policymakers said on Tuesday.
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WASHINGTON - This year's surge in energy prices is likely to have far less of an impact on the economy than the oil shocks of the 1970s, Federal Reserve Chairman Alan Greenspan said Friday.    Greenspan predicted that the global economy will adjust to the recent surge in prices, which has seen oil topping $50 per barrel, by boosting energy exploration and production and by increasing fuel efficiency...
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With the price of oil hovering near $100 a barrel and overall economic anxiety on the rise, President Bush said yesterday that he may use his upcoming State of the Union address to propose a stimulus package intended to promote growth and shore up weak parts of the economy.
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Prices came in surprisingly weak, despite surging oil costs. And since crude is likely to recede, the CPI should now stay flat. You wouldn&#39;t know that crude-oil prices spiked to their highest levels in two
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A U.S. military strike against Iran would have dire consequences in petroleum markets, say a variety of oil industry experts, many of whom think the prospect of pandemonium in those markets makes U.S. military action unlikely despite escalating economic sanctions imposed by the Bush administration.
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High oil prices will probably brake US growth but will not derail the economy provided they do not rise sharply from current levels, top Federal Reserve policymakers said on Tuesday.
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Record oil prices are creating headwinds for the U.S. economy but do not place its recovery at risk, Dallas Federal Reserve Bank President Robert McTeer said on Monday.
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This year's oil price surge will not be a replay of the oil shocks of the 1970s and 1980s that sent the United States into a series of recessions, Federal Reserve Chairman Alan Greenspan said Friday.
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Despite the parallels with the oil shocks of past decades, the impact of the oil spike on the economy is likely to be much less intense than in previous surges.
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Will today&#39;s careening crude oil prices reprise That &#39;70s Show? Not according to Alan Greenspan. The Federal Reserve chairman said this year&#39;s price climbs will likely have a far gentler impact on the economy
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The International Monetary Fund yesterday issued a warning that record oil prices will stunt the growth of the global economy next year and oil prices are likely to remain high for 10 years or more.
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The Federal Reserve may be willing to accept a temporary increase in unemployment by lifting interest rates as oil prices rise because the ``worst possible outcome&#39;&#39; would be to let
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President Bush's economic advisers warned on) Sunday that high energy prices have become a drag on the U.S. economy and not a threat to growth, chipping away at Bush's upbeat election-year projections and increasing pressure on him to act.