Macro Quick Hit: Oil’s Well—The Diminished Impact of Oil Prices on the U.S.
The experiences of the first oil price shock from the oil embargo of 1973, the second following the Iran hostage crisis of 1979 and the outbreak of the Iran-Iraq war in 1980, and the third with the Iraqi invasion of Kuwait in 1990 linked higher oil prices with weaker economic growth. The reverse proposition, that low oil prices boosts economic growth has been less clear in recent years—particularly when oil plunged between June 2014 and February 2016. What has happened to the responsiveness of the U.S. economy to oil prices and what might this mean for the economy if oil prices continue to rise?
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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