Fed's Goolsbee (2027 voter) says if oil was USD 90/bbl month after month, it would start spilling over to other prices
Importance
Level 1
- Oil futures prices show people think this will be a short-run argument.
- As long as consumer remains strong, economic growth will too.
- Don't be surprised if consumer sentiment sours.
- There is some breakdown of consumer sentiment as an indicator of behaviour.