Pantheon Macroeconomics

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21st May 2017 17:31U.S.

In recent years only one event has made a material difference to the growth path of the U.S. economy, namely, the plunge in oil prices which began in the summer of 2014. The ensuing collapse in capital spending in the mining sector and everything connected to it, pulled GDP growth down from 2½% in both 2014 and 2015 to just 1.6% in 2016.

growth oil hit fed unemployment recession gdp gdp growth capex oil prices oil debt debt services foreign trade trade yellen chair yellen nairu oil inventory capital spending bea funds recession corporate debt high rates rates stock prices

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