Oil will not cause recession says Dallas Fed

Stephen Brown, the senior economist for the Federal Reserve Bank of Dallas said Tuesday that high oil prices are unlikely to push the U.S. economy into a recession.

Stephen Brown, senior economist for the regional Fed bank, said although the high price of oil will not drive the nation's economy into a recession they will weigh on economic growth.

I think the answer is no, Brown said when asked if high prices would cause a recession. But it is causing problems to the economy.

It's a slight drag o