Allan Ellinger, founder and senior managing partner of MMG Advisors, said, “While I think it’s too early to make any major prediction about the long-term impact on the U.S. economy, clearly the projected increase in fuel prices alone could have a debilitating domino effect on the economy that will impact consumer purchasing, supply chain, travel, energy bills and manufacturing of petroleum-based products. I think we have seen how resilient the consumer can be, but we are living in an interwoven global economy that has not seen this kind of action in over 70 years. We need time to see the impact this action will have on the world.”
