Steven Wieting Prices Quotations

We're getting higher and higher oil prices each day and you'll continue to see a larger drag on the economy through the summer months.

We're not at gas prices that pose some kind of a tipping point. There have been botched forecasts of a recession at every $10 move (higher) in crude oil futures.

We're not at gas prices that pose some kind of a tipping point.

It's more of a victory lap. Literally a month ago people were arguing that prices would not stop going up. Now, data we would have killed for two years ago is seen as the end of the world. But alarmists on both sides of this thing have been shown to be wrong.

The Fed has assumed that the weakness in the first quarter was temporary. This confirms that. The reasonable view was you don't have a one-third rise in energy prices without consequences.

If you can tell me where the next move in oil prices is going to be -- up to $60 a barrel or down to $20 -- I can tell you what the economy is going to do.