The economic impact of the instability in the Middle East has been "somewhat moderate" so far, IMF Managing Director @KGeorgieva says. "But any impact, as small as it might be, is not desirable in an economy with high uncertainty," she tells @margbrennan.
@KGeorgieva @margbrennan .@KGeorgieva adds: "Very simple: Oil prices go up, inflation goes up...From an economic standpoint, the more we reduce uncertainty, the better."
@FaceTheNation @KGeorgieva @margbrennan Why don’t we just “quit oil” then? /s
@FaceTheNation @KGeorgieva @margbrennan It was bad before this.
@FaceTheNation @KGeorgieva @margbrennan Energy cost isn’t just an adder to cost of goods and services, it’s a multiplier. It impacts every part of every process over and over again. High energy costs = misery for the working population.
@FaceTheNation @KGeorgieva @margbrennan Oil prices goes up, inflation goes up. Because if oil is $25 and goes to $50, oil prices goes up. Inflation measures $25 oil and then $50 oil, then yes inflation will see oil prices went up by $25
@FaceTheNation @KGeorgieva @margbrennan Well we could always just lean into our domestic production and create vehicles that use the type of oil we have. I know how crazy that sounds…
@FaceTheNation @margbrennan @KGeorgieva Plenty of crap on this show today