World Economy Weakens but in the US Economy Even Stronger Lately, the price of crude oil is draining the attention of the industry in a number of countries. However, according to Fed governor in Minneapolis Narayana Kocherlakota, the decline in oil prices would be good for the economy of the United States (US). "I believe the US economy will continue to grow, despite the worldwide economy weakened," Kocherlakota said as quoted by Reuters.
According to him, the decline in oil prices Duni, will motivate the population to be more thrifty, and it is good news for the US economy. At the same time, he explained, the world oil prices are down this slump, will relieve pressure on the business of production and drilling in North Dakota. The economy in North Dakota is experiencing due to the strengthening of higher oil industry in recent years. However, Kocherlakota explained that the economic might of the United States still has many challenges and obstacles. Actually, a formidable challenge to the current economic growth rate is, whether the Fed is able to be patient, before finally raise US interest rates?
According to him, the decline in oil prices Duni, will motivate the population to be more thrifty, and it is good news for the US economy. At the same time, he explained, the world oil prices are down this slump, will relieve pressure on the business of production and drilling in North Dakota. The economy in North Dakota is experiencing due to the strengthening of higher oil industry in recent years. However, Kocherlakota explained that the economic might of the United States still has many challenges and obstacles. Actually, a formidable challenge to the current economic growth rate is, whether the Fed is able to be patient, before finally raise US interest rates?
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