Inflation | Oil

By
Mortgage and Lending with Benchmark Home Loans 173024

Fed Chair Janet Yellen spoke on front of Congress yesterday on the U.S. economic landscape and monetary policy. Ms. Yellen confirmed the market concerns that inflation expectations would likely rise with President-elect Donald Trump’s economic plan and infrastructure spending plan. Ms. Yellen went on to say that the economy is close to full employment and employers could begin the push wages higher to attract workers, which is also inflationary. In addition, a rate hike could come "relatively soon". A December hike to the short-term Fed Funds Rate is essentially on table with a 90% probability that the Federal Reserve will raise that benchmark rate.

Black gold, Texas Tea. Those words were used to describe crude oil back in the television sitcom "The Beverly Hillbillies" back in the 1960s. Just recently, the U.S. Geological Survey reported that the largest ever oil and gas deposit was discovered in the U.S. The agency announced that the Wolfcamp shale, located in the Midland Basin portion on Texas' Perman Basin, is said to contain 20 billion barrels of oil and 1.6 billion barrels of natural gas liquid. The oil alone could be worth up to $900 billion!

Posted by

Steve Reed

Benchmark Home Loans

Branch Manager

NMLS #173024

Ark-La-Tex Financial Services, LLC NMLS #2143 

4138 Bristol Highway, Suite #4

Johnson City, TN 37601

Phone 423-232-0111

steve.reed@benchmark.us

www.stevereed.benchmark.us

Apply Now

Connect with me:       

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Tennessee

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
268,249

Steve Reed

Steve Reed Branch Manager | Benchmark Home Loans
Ask me a question
*
*
*
*
Spam prevention