Business Services Industry
Oil prices' effect on economy may change Fed's mind, experts say.
Knight Ridder/Tribune Business News, August, 2004
The Philadelphia Inquirer Knight Ridder/Tribune Business News
Aug. 10--When members of the Federal Reserve meet today to discuss raising interest rates, they will have consumers like Ileana Santiago in mind.
Santiago, a mother of two school-aged boys, was shopping at a Cherry Hill Target yesterday, bemoaning the fact that high gasoline prices have cut into her buying power.
Shopping to replace a broken coffee pot, she said other things will have to wait, such as clothing for herself or her boys. "The gas keeps going up, but your paychecks stay the same," said Santiago, a hospital billing clerk who lives in Camden.
A few months ago, economists predicted that a strengthening economy will lead to a string of small, but steady...
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