Home
 
Choose Your City
Change City

Fed chief: Oil poses no threat

Federal Reserve Chairman Ben Bernanke offered a fairly upbeat assessment of the economy yesterday, saying the recent surge in oil prices is unlikely to strongly affect growth or inflation as long as higher prices do not become sustained.

Federal Reserve Chairman Ben Bernanke offered a fairly upbeat assessment of the economy yesterday, saying the recent surge in oil prices is unlikely to strongly affect growth or inflation as long as higher prices do not become sustained.

Bernanke told the Senate Banking Committee he saw increasing evidence that the economic recovery has enough momentum to become self-supporting. But job growth remains far too anemic, he said, indicating the Fed was unlikely to cut short its $600 billion bond-buying stimulus.

 
 
Consider AlsoFurther Articles