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The Economy in Perspective

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Even as U.S. military forces combat terrorism in Afghanistan, Secretary of State Colin Powell prepares to travel to the Middle East. Fears of a widening conflict have been sending oil prices higher in recent weeks, and an escalation of violence in the region could add more uncertainty to energy markets. As developments shift daily, it is clear that that oil and Middle East politics continue to bedevil U.S. economic interests.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-04, pp. 01, 04.01.2002.

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