Economy, shaken by fuel prices, continues to reel

Last week's $10 spike in oil prices, and a worse than expected May unemployment report, served as a reality check for those who thought the economy might be picking up. With oil prices continuing to go up and businesses tightening their belts, is the U.S. economy headed into a deeper recession than expected?

Guests

• Jared Bernstein: Senior economist at the Economic Policy Institute, and author of "Crunch: Why Do I Feel So Squeezed."
• David Pursell: Managing director at Tudor Pickering and Company, an investment and merchant banking firm.

More from MPR

• News Cut: Is it time to get rid of the .9 pricing system?

Resources

• About Jared Bernstein
• Tudor Pickering Holt & Co.
• OPEC
• Bureau of Labor Statistics