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| Home > News > Financial and Economic News > Conflict overseas raises concerns about economic growth |
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| Conflict overseas raises concerns about economic growth |
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| 3/22/2011
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A financial expert recently predicted that recent unrest in Libya and rising oil prices will produce tepid economic news in the coming months.
Gus Faucher, director of macroeconomics at Moody's Analytics, told The Huffington Post that the escalating violence in Libya and turmoil in Middle East oil-producing nations has raised fears among investors about supply disruption. Although many Americans are aware of the conflict in Libya because of U.S. military involvement, there are also mounting tensions in nations such as Yemen, Iran and Saudi Arabia.
Unrest in the Middle East and Northern Africa has sent oil prices skyrocketing in the past month, reaching levels that had not been seen since the beginning of the recession in 2008.
Students who are pursuing their MBA degrees are hoping that conflicts overseas will not impede economic growth.
"A spike in energy prices to $125 or $150 a barrel is the primary threat to the recovery at this point, now that it appears the situation [following the earthquake] in Japan has settled down somewhat," Faucher told the media outlet. "This could play out over a period of weeks and months."
According to Bloomberg, billionaire investor Warren Buffett recently said that government stimulus and the "resilience of capitalism" will allow the economy to continue to grow "month by month." |
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