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Boston Fed chief rebuts theory that rate cuts spurred oil prices
Summary from United States, from articles in English
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HARWICH - Allowing inflation and unemployment to rise in the short-term would be an "appropriate" response by policy makers to soaring oil prices, Donald L. Kohn said yesterday. (article 4)
Kohn, speaking here at a conference sponsored by the Boston Federal Reserve Bank, said that moving quickly to bring down inflation in the face of oil and commodity price shocks could produce a sharp increase in unemployment. (article 4)
The Federal Reserve said Wednesday that economic growth was "generally weak" in April and May as consumer spending slowed, while manufacturers in several regions passed on higher raw material costs to their customers. (article 9)
" Business contacts in most districts reported increases in input prices... especially prices for energy, petroleum derivatives, metals, plastics, chemicals, and food the Fed said in its Beige Book summary of economic conditions. (article 10)
The upward march of energy and other commodity prices has triggered inflation worries and raised expectations the central bank's next step may be to increase interest rates to relieve price pressures. (article 10)
WASHINGTON - The economy remained "generally weak" heading into summer as rising costs for energy and food pounded consumers and forced some companies to push their own prices higher. (article 3)
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Story keywords
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inflation, cent, rate, Prices, Bank |
Source articles
- Fed chief: Economy might not slip much (boston.com, 06/10/2008, 552 words)
- ON Friday, fears were rekindled that the country c... (baltimoresun.com, 06/11/2008, 240 words)
- Fed: High energy, food prices keep economy weak (seattletimes.nwsource.com, 06/11/2008, 848 words)
- Trying to balance inflation, concerns over downturn (boston.com, 06/12/2008, 415 words)
- Boston Fed chief rebuts theory that rate cuts spurred oil prices (boston.com, 06/11/2008, 685 words)
- Dollar Sense (Washington Post, 06/11/2008, 397 words)
- Fed’s economic survey offers some cheer (ft.com, 06/11/2008, 469 words)
- Economy called 'generally weak' (boston.com, 06/12/2008, 406 words)
- Fed says economic growth weak (L.A. Times, 06/12/2008, 300 words)
- Retailers success raising prices limited: Fed (Washington Post, 06/11/2008, 329 words)
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blaster@cs.columbia.edu
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