Markets

Will Oil and Gas Tank the Economy?

Updated on: February 25, 2011 / 9:59 AM EST / MoneyWatch

The government just announced its second estimate of US Q4 Gross Domestic Product and the news was not good: annualized growth was revised down to 2.8 percent from the original estimate 3.2 percent. The decrease puts fourth quarter growth closer to that of third quarter's 2.6 percent, though far less than the 4-5 percent growth normally associated with economic recoveries.

As Middle East unrest continues, the big question that looms is: can our fragile economic recovery withstand soaring oil and gas prices? That was our topic on CBS2 this morning.

Jill Schlesinger

Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.

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