08.03.2011 - Fed's Evans: Commodity inflation due to global growth

From Dow Jones: Rising prices for oil and other commodities are largely the result of the growing global economy and turmoil in the Middle East, rather than U.S. monetary policy to preserve low interest rates, a leading Fed policy maker said Monday. Charles Evans, president of the Federal Reserve Bank of Chicago, acknowledged that soaring prices for oil and other commodities are a headwind for the U.S. economy..............................................Full Article: Source

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