James Bullard, President of the formerly respected Federal Reserve Bank of St. Louis, admits that oil prices are high, but one theory that he espouses holds that they are not high enough to threaten the country’s economic growth.
I’ll admit a sense of great relief upon hearing this. Only a day prior I had filled the tank on my 16 year old Ford WindStar, (the best car that I ever owned), at a cost of about $70.00. At the time I was contemplating the options of doing without electricity for a week, or just not eating for 10 days to help defray the cost of filling up my tank with gas that is not a threat to the economy. But when I heard from President Bull(ard) that the cost wasn’t a national threat, I was much relieved. So now I sit in the dark with a rumbling tummy much comforted to know that he and the Fed Reserve understand the situation of a former member of the middle class
No comments:
Post a Comment