Bernanke warns on oil price threat to US recovery

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 ...