WH economist: Oil price benefits near for U.S. economy
May 3, 2015
The U.S. economy may not be benefiting as much as anticipated from the collapse in oil prices over the past 10 months. In fact, for oil-producing states, the decline of some 50% is taking a toll. But one thing seems clear: The nation as a whole is nowhere near as susceptible to sharp swings in oil prices — one way or the other — as it was for decades. That was the message from Jason Furman, the chairman of the White House Council of Economic Advisers and President Obama’s chief economist, at a New York forum held by the Columbia University Center on Global Energy Policy. (Read More)
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