Wharton Professor Jeremy Siegel says the surge in oil prices won't be a big problem for inflation as natural gas keeps plummeting
That's because despite the surprise OPEC production cut on Sunday, whichnatural gas prices are still falling.
US natural gas prices slumped 4% to $2.12 per million BTUs, essentially testing its lowest level in over a year. Siegel also pointed out that the Federal Reserve typically focuses on inflation excluding energy prices, and that the US is in a unique position compared to other non-oil producing countries.
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