Bernanke warns on oil price threat to US recovery

clock

The soaring oil price poses a threat to the US economic recovery if price hikes are sustained, warns Federal Reserve chief Ben Bernanke.

Addressing the Senate Banking Committee, Bernanke said Middle East unrest and the subsequent rise in commodity prices will probably translate into a modest and short-lived increase in consumer inflation, the New York Times reports. However, sustained rises in the prices of oil and other commodities would represent a threat both to economic growth and to overall price stability, he says. The real concerns, though, remain US unemployment figures. "Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established," he adds. But he notes ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Chaos is not a ladder: Navigating human behaviour at times of market stress

Chaos is not a ladder: Navigating human behaviour at times of market stress

'It is important to maintain perspective'

Sacha Chorley
clock 09 March 2026 • 4 min read
Four reasons why direct engagement can still make a difference

Four reasons why direct engagement can still make a difference

'Quantitative data arguably tells only half the story'

Simon Wood
clock 05 March 2026 • 4 min read
Darius McDermott: Is income under pressure?

Darius McDermott: Is income under pressure?

‘The period of abundant income is ebbing'

Darius McDermott
clock 04 March 2026 • 5 min read