(http://media.il.edmunds-media.com/non-make/ns/ns_428112_196.jpg) There's nothing the Federal Reserve can do about rising gas prices "without derailing growth entirely," said Federal Reserve Chairman Ben Bernanke this week in the central bank's first-ever press conference.
WASHINGTON — Consumers upset about rising gas prices won't be getting relief any time soon from the Federal Reserve, the central banking system of the U.S. charged with maintaining the stability of our financial system.
There's nothing the Federal Reserve can do about rising gas prices "without derailing growth entirely," said Federal Reserve Chairman Ben Bernanke this week in the central bank's first-ever press conference.
"This is a very adverse development," Bernanke said. "It accounts for almost all of the inflation. There's not much the Federal Reserve can do about gas prices, per se, without derailing growth entirely.
Source: Nothing We Can Do About Gas Prices, Bernanke Says (http://www.insideline.com:80/car-news/nothing-we-can-do-about-gas-prices-bernanke-says.html)