, Columnist
The Oil Market Needn’t Fear a Calamitous US Recession
A quick history lesson suggests that an economic slowdown might not be too terrible.
Things are looking cloudy.
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Rising US interest rates, sky-high oil prices, soaring inflation, a foreign war. Then, naturally, a recession.
The trajectory may sound awfully familiar, but I’m not describing the present-day American economy. Instead, this is what the US looked like in early 1990. The commodity market now fears a repetition — with another cycle of rising interest rates, expensive oil and a disruptive military conflict leading to an economic slowdown.