World politics
from24/7 Wall St.
5 days agoOil Is Replacing Interest Rates as the Global Economy's Dominant Force
Oil is becoming the primary economic lever as interest rates lose their dominance in the economy.
I wanted to ask you about how the higher-income households are really driving spending right now that are backed by home equity and stock market wealth, but lower-income consumers are really struggling with the accumulation of five years now of rising prices. It's price levels, not really the inflation rate, holding some of these families back. How sustainable is this so-called K-shaped economy?