Asks when oil price impact starts affecting US economy and raising stagflation concerns.
Morgan
Mark Zandi
$120 oil translates to $4.50-$5 gasoline, hitting consumers directly while producers benefit but won't invest quickly.
Mark Zandi
Higher diesel prices raise grocery and delivery costs, affecting collective psyche - nothing more pernicious than gasoline prices for consumer perception.
Mark Zandi
If $120 oil lasts 3-4 months, we'll be talking about recession.
Mark Zandi
Consumers on edge, prices going up - buckle up.