Done in by the Dollar; Congressional Action Can Strengthen Federal Funds
Byline: Eric Cantor, SPECIAL TO THE WASHINGTON TIMES
Just when you thought it couldn't get any worse than paying $3.58 for a gallon of gasoline comes this bombshell prediction from investment bank Goldman Sachs on Tuesday: The price of crude oil - buoyed by the dollar's continued free fall - could rise 66 percent to $200 a barrel within two years.
This would trigger massive price hikes at the pump, a disaster for a consumer-driven American economy already shaken by crises in the housing and credit markets. Fortunately, its emergence is not a foregone conclusion. Congress, the Fed and the Treasury, charged with keeping a stable currency, can drive down the price of …
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Publication information: Article title: Done in by the Dollar; Congressional Action Can Strengthen Federal Funds. Contributors: Not available. Newspaper title: The Washington Times (Washington, DC). Publication date: May 8, 2008. Page number: A17. © 2009 The Washington Times LLC. COPYRIGHT 2008 Gale Group.
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