We are in a unique period in economic history.
“They’re between a rock and a hard place. It’s a very, very tough situation. You’re d*mned if you raise rates significantly more and put even more pressure on the banks, but you’re d*mned if you don’t” and inflation accelerates. – Raghuram Rajan, a former governor of the Reserve Bank of India, June 2023 Federal Reserve Chair Jerome Powell finds himself in a place no central banker wants to be: working to avert a credit crunch, which calls for
Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. -Bloomberg, 12/13/21 “The world is going back to a world that we had in the ’70s and the ’80s,” said ConocoPhillips CEO Ryan Lance, during a panel at the conference called CERAWeek by S&P Global. He warned that OPEC would soon supply more of the world’s oil. -Wall Street Journal, 3/9/23 Last year, for