As both supply and demand for crude oil has increased globally, new efficiencies and access to shale reserves in the U.S. are helping drive production up and oil prices down. In the latest event in the Dialogue with the Fed series, these drivers and the impacts they have on national and regional employment, economic growth, consumer spending, business investment and GDP are examined.
Mine Kuban Yücel, senior vice president and director of research at the Federal Reserve Bank of Dallas, presents her research into the dynamics of oil prices in the U.S. economy. Her findings show how, in response to lower oil prices, regions of the U.S. dependent on oil for their economic health fare quite differently than regions whose economies rely less on oil production and refining.
This presentation wraps up with an audience Q&A session. Yücel is joined by moderator, Julie Stackhouse, of the Federal Reserve Bank of St. Louis; Michael Plante, senior economist at the Federal Reserve Bank of Dallas; and Alejandro Badel, economist at the Federal Reserve Bank of St. Louis.