The Impact of Inflation and Economic Health: Key Data Points and PetroNerds’ Insights

Oil prices have recovered by over $4 bucks from last week’s lows and are currently sitting at $73 and change. Partisan debt ceiling talks with the White House and Congress has put Biden against McCarthy in a standoff. Big inflation data for the US comes out tomorrow. The CPI (Consumer Price Index) will be a read on the trajectory and state of price increases while PPI (Producer Proce Index), released Friday, will be a read on the health of the economy. Recession fears loom as the stock market has trouble pricing in key data points stacking up against the economy. People are spending, increasingly on credit cards and buy now pay later plans, but they are spending, helping to keep inflation levels high. But consumer spending isn’t the first shoe to drop in a recession, light or hard. The other shoes have already begun dropping. Another Permian Basin Petroleum Museum video from PetroNerds. A visit to this museum should be required for all policy makers, especially those in C