High Energy Costs Hurting Economy: ; Fed Chief Warns of Slowing Growth, Higher Inflation

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WASHINGTON - Surging energy prices are acting like a double whammy on the country's economy, crimping growth even as they push up inflation, Federal Reserve Chairman Ben Bernanke said Thursday.

"The increase in energy prices is clearly making the economy worse off, both in terms of real activity and in terms of inflation," Bernanke told the House Financial Services Committee. "There is no question about it."

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High Energy Costs Hurting Economy: ; Fed Chief Warns of Slowing Growth, Higher Inflation

Although Fed policymakers at their June meeting were concerned about higher energy prices and the risk of inflation spreading through the economy, they also seemed hopeful that ...

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