Federal Reserve Vice Chairman Jefferson says rising energy prices may push up costs in other areas

On March 27, Federal Reserve Vice Chairman Philip Jefferson said that rising energy prices may push up costs in other areas of the economy, but the increase is so far within control. "The current rise in energy prices in the United States should have relatively little impact on inflation, but consumers feel that oil prices are higher at gas stations," Jefferson said in a prepared speech at the Dallas Fed on Thursday. "Long-term high energy prices may put price pressure on a variety of other products," he said. "As a policymakers, I will pay close attention to whether these cost increases will be reflected in the price system across the economy." (Zhitong Finance)