Texas has been slammed by the collapse in oil prices and the recovery ahead for the area and the national economy as a whole will be slow, former Dallas Federal Reserve President Richard Fisher said Tuesday.
West Texas Intermediate crude prices plunged into negative territory Monday, the first time that has happened, as slumping demand and over-supply distorted energy market dynamics.
Fisher said his state is looking to restart slowly an economy that has been bruised by the oil slump.