U.S. oil prices have dropped to six-year lows, and the main reason is no secret. “The world is currently oversupplied,” says Smith School professor Charles E. Olson. “After years of declining production, we entered a new boom around 2008 when companies started using fracking technology to extract oil.” Other realities are less obvious, such as why companies keep pumping oil when stockpiles are full — or why gasoline
Sixteen new PhD students are beginning their academic journey at the Smith School this fall. Hailing from all across the globe and from a variety of professional and academic backgrounds, these new PhDs will be researching alongside Smith's best and brightest minds.
What are the risks of not raising U.S. interest rates? Kristen Fanarakis, assistant director of the Center for Financial Policy at the Smith School, shares insights. "Extended periods of low interest rates can create distortions in financial markets and excessive risk taking," she says. "I think that is the Fed's biggest concern, along with the worry that with rates already near zero they aren't well equipped to
Even before the stock market correction that began on Friday, Smith School professor Albert “Pete” Kyle argued against interest rate hikes in the United States. "Today's plunging stock markets make it even less likely that the Fed will raise interest rates," he said Monday. "The Fed's justification for probably not raising rates will likely be to promote stable economic growth in a benign inflationary environment, not