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Libyan turmoil could slow Oregon's economic recovery

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High Five
Tuesday, March 08, 2011

Although Oregon added jobs in January, economists say turmoil in Libya could skyrocket oil prices, slowing economic growth in Oregon and the nation.

Rapid oil-price increases could trigger inflation, pushing the Federal Reserve to stop expanding the money supply. Or such price jumps could slow household spending, forcing the Fed to renew stimulus.

Either way, University of Oregon economist Tim Duy, who said last week the state finally was escaping its jobless recovery, is closely watching commodity prices as keys to the economic future.

"The economy can't withstand another quick run to $140 a barrel," Duy wrote this week on his Fed Watch blog. "The recent surge in oil has been a blow to my rising optimism."

Read more at OregonLive.com.

{biztwet}Libya Oregon{/biztweet}

 
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