Plunging Crude Prices: Impact on U.S. and State Economies

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. This event explores these drivers and the impacts they have on national and regional employment, economic growth, consumer spending, business investment and GDP.

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.

Presentation (PDF)

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.

View all videos from this Dialogue with the Fed event:

• Part 1: Julie Stackhouse, Introduction and Welcoming Remarks (5:27)
• Part 2: Speaker Introduction and Overview (9:57)
• Part 3: Effects of Increased U.S. Oil Production (10:00)
• Part 4: Regional Effects of Lower Oil Prices (10:54)
• Part 5: How U.S. States Fare; Oil Price and Consumption Forecasts (11:12)
• Part 6: Audience Q&A (32:32)