Andy Schectman: Rising Oil Prices – The Latest Problem for Fed’s Inflation Battle
The Federal Reserve has seen the government inflation metrics come down over the past year throughout its interest rate hiking campaign. But one of the driving factors behind the decrease in the rate of increase has been lower energy prices.
This makes it concerning that even with the CPI and PCE indicators still well above the Fed’s 2% mandate, oil prices are rising again. With WTI now over $91, while Brent crude approaches the $95 level.