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.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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