Tags: gas | william dudley

Dudley: No Magic Wand to Lower US Gas Prices

Friday, 20 May 2011 03:58 PM

The recent rise in gasoline prices is driven by unrest in the Middle East and is therefore not something the Federal Reserve is in a position to tackle, a top Federal Reserve official said on Thursday.

"We don't have a magic wand, unfortunately," New York Federal Reserve Bank President William Dudley told a meeting in Fishkill, New York in response to an audience question.

Dudley said it was hard to get a read on the recent drop in commodity prices, but added he hoped it would persist.

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The recent rise in gasoline prices is driven by unrest in the Middle East and is therefore not something the Federal Reserve is in a position to tackle, a top Federal Reserve official said on Thursday. We don't have a magic wand, unfortunately, New York Federal Reserve...
gas,william dudley
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2011-58-20
Friday, 20 May 2011 03:58 PM
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