U.S. economy not as exposed to spikes in crude oil prices as it was in the 1970s, the Federal Reserve Bank of Dallas found. File Photo by John Angelillo/UPI June 20 (UPI) — The price of oil is vulnerable to spikes from geopolitical events, though the U.S. economy seems only modestly at risk, an economist at the Dallas Fed said. The U.S. economy is expanding at a rate above 2 percent, jobless rates are at historic lows, and wages are improving, though some metrics indicate wages aren’t keeping up with inflation. Consumer fuel prices are nearly 22 percent higher than they were last year. The price of oil touched a multi-year high earlier this year at $80 per barrel for Brent, the global benchmark for the price of oil. Robert Kaplan, the president of the Federal Reserve Bank of Dallas, said in an essay published Tuesday that instability in […]