Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Treasury Secretary Jack Lew Not Worried About Low Oil Prices

Jack Lew / Getty

 

Speaking at the Dealbook “Opportunity for Tomorrow” conference in New York, Treasury Secretary Jack Lew said that low oil prices are good for the consumers and the GDP. He said, “they are like a tax cut, ” for Americans. He added American oil production is a “great success story, ” even as these producers have been hurt by oil prices. Secretary Jack Lew said long-term, the prices will work themselves out and reach equilibrium. Oil production “has made America a more attractive place t invest.” In the meantime, lower energy prices will aid domestic growth. At the same time, the push toward alternative fuels, said Lew, is essential for a healthy long-term energy policy.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

The Treasury Secretary moved onto other topics, such as the battle raging between Democrats and Republicans, and a compromise that may cause the Republicans to stop fighting for a government shutdown so they can attempt to roll back some of the Dodd Frank banking reforms. “What Congress and the President are going to have to work through in the next day or to is that trade-off, ” he said.

While Jack Lew sounded bullish on the economy, he said the problem of stagnant wages remains to be fixed, “It’s a lot to expect for the American People who are struggling with wages that aren’t rising as fast a they should to say everything is fine.”

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.