NEPC’s Jennifer Appel was quoted in a recent FOX Business article which focuses on how rising crude prices could create a new inflation headwind. View the article on FOX Business’ site here.
Chevron CEO Mike Wirth told Bloomberg that the price of oil “probably is headed for the $100 mark soon amid tightening supplies.”
Production reductions from Russia and Saudia Arabia have West Texas Intermediate (WTI) trading above $90 per barrel, while the global benchmark Brent Crude is hovering at $94 per barrel.
. . .
“Higher energy prices have a significant impact on headline CPI, and we expect these pressures to flow through to other aspects of inflation in the coming months,” Senior Investment Director of Asset Allocation at NEPC Jennifer Appel told FOX Business. “A sustained uptick in inflation resulting from gasoline prices will complicate the Fed’s efforts to curb inflation and may introduce an upward bias into interest rate expectations.” The Federal Reserve will announce its decision on interest rates Wednesday at 2 p.m. ET.
Click here to continue reading the full FOX Business article.