Oil prices have surged 55% during Jerome Powell’s tenure as Fed Chair

2023-9-15 00:00

Quick Take

WTI Crude oil is currently hovering around the $90 a barrel mark, with Brent crude oil reaching as high as $93 a barrel. This escalation, if sustained, is likely to exert additional inflationary pressure on global central banks.

Under the stewardship of Jerome Powell, the Federal Reserve has witnessed a 55% surge in oil prices — the second-highest increase seen by any Fed chair 50 months into their tenure. This inflationary trend was only surpassed by Arthur Burns’s term in the 1970s when oil prices skyrocketed by an astounding 200%.

These historical benchmarks provide insights into the potential economic repercussions central banks might face. Sustained high oil prices can heighten inflationary trends, necessitating corrective monetary policy measures. Policymakers will need to tread carefully to balance inflation control while supporting economic recovery in a post-pandemic world.

Crude Oil: (Source: MacroTrends)

The post Oil prices have surged 55% during Jerome Powell’s tenure as Fed Chair appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Voltage (HVCO) на Currencies.ru

$ 0.0012187 (+0.56%)
Объем 24H $0
Изменеия 24h: 0.13 %, 7d: -0.82 %
Cегодня L: $0.0012066 - H: $0.0012233
Капитализация $0 Rank 8594
Цена в час новости $ 0.0147322 (-91.73%)

oil barrel crude escalation high brent reaching

Источник: cryptoslate.com

oil barrel → Результатов: 18


Фото:

Collapsing Petrodollar and Oil Prices could Find Relief in Digital Currency Counterparts

The price of oil continues to tumble lower — WTI crude briefly traded for under $20 per barrel this week. The dollar, dependent on oil, could now in serious jeopardy. The oil price war between Russia and Saudi Arabia shows no signs of slowing down, and US shale will likely see mass bankruptcies in the […] The post Collapsing Petrodollar and Oil Prices could Find Relief in Digital Currency Counterparts appeared first on BeInCrypto.

2020-4-2 13:10


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Celsius founder Alex Mashinsky loses bid to dismiss charges

Alex Mashinsky, the former CEO of the defunct Celsius Network, has failed to get two fraud charges dismissed from his indictment.  A federal judge in New York ruled against Mashinsky’s motion, which alleged he manipulated the price of Celsius’s cryptocurrency,…

FTX reaches $228 million settlement with Bybit amid bankruptcy efforts

FTX has reached a $228 million settlement with crypto exchange Bybit and its affiliates, concluding a lawsuit filed in Nov. 2023 that sought to recover approximately $1 billion in assets. The agreement allows FTX to withdraw $175 million in digital assets held on Bybit’s platform and sell about $53 million in BIT tokens to Mirana […] The post FTX reaches $228 million settlement with Bybit amid bankruptcy efforts appeared first on CryptoSlate.