Bernanke: Sustained oil price rise danger to US economy

Gerald · 03-01-11, 05:27 PM

The length of time that oil prices remain high will be significant for the US economy, US Federal Reserve chairman Ben Bernanke has said.

He told the Senate Banking Committee that the most likely outcome was a temporary and modest rise in inflation.

But he warned that a prolonged rise in oil prices would pose a danger to economic growth in the US.

Mr Bernanke said he believed the US economy would continue to grow in 2011, but unemployment would remain high.

http://www.bbc.co.uk/news/business-12612430

Note:1 March 2011 Last updated at 16:46 GMT

03-01-11, 05:27 PM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Bernanke: Sustained oil price rise danger to US economy The length of time that oil prices remain high will be significant for the US economy, US Federal Reserve chairman Ben Bernanke has said. He told the Senate Banking Committee that the most likely outcome was a temporary and modest rise in inflation. But he warned that a prolonged rise in oil prices would pose a danger to economic growth in the US. Mr Bernanke said he believed the US economy would continue to grow in 2011, but unemployment would remain high. http://www.bbc.co.uk/news/business-12612430 Note:1 March 2011 Last updated at 16:46 GMT __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie