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Will Oil Spike Lead To QE3?

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Chris Barth
Forbes
March 8, 2011

Recent comments from Atlanta Federal Reserve President Dennis Lockhart, combined with spiking oil prices, have led to speculation regarding future rounds of quantitative easing. Lockhart spoke recently at the National Association of Business Economics conference, commenting on rising oil prices and the potential for spikes to affect the economic recovery.

“I would take a position we would respond with more accommodation” Lockhart said, regarding the potential onset of recession as a result of oil price increases. While current – or even slightly elevated – prices are manageable, said Lockhart, “around $150 it becomes a much more serious concern.”

Serious indeed, given that economist Nouriel Roubini is highlighting the potential for oil prices to reach $150 per barrel. Additionally, markets have seen a drastic increase in options trading on $200/barrel oil futures set to expire in mid-May.

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This article was posted: Tuesday, March 8, 2011 at 5:29 am





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