Fed's McTeer sees no recession from oil hikes

Dallas Federal Reserve Bank President Robert McTeer said in a comment piece in the Wall Street Journal on Monday that despite the increase in energy prices, the United States will not go into a recession as it has during previous jumps in energy costs.

"Paying more for oil and natural gas can sap growth, but this time around the recovery appears robust enough to withstand the higher energy bills," he wrote.

"Fortunately, more expensive energy will only muffle the recovery, not snuff it out," Mc