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COPYRIGHT 2005 FDCH e-media
Original Source: FOX SPECIAL REPORT WITH BRIT HUME
ANGLE: The Federal Reserve today did what it was expected to do and raised a key interest rate by one quarter of one percent. Is that a good sign or a troubling one?
FOX News correspondent Brian Wilson has more on the current state of the U.S. economy.
(BEGIN VIDEOTAPE)
BRIAN WILSON, FOX NEWS CORRESPONDENT (voice-over): If you've topped of your tank recently, you know that gasoline prices are high.
UNIDENTIFIED MALE: And I've travel all over the United States and I just see these prices just going through the roof. Anyhow, and it's just crazy.
UNIDENTIFIED MALE: Yes. Usually it takes me about $22 and now it takes about $32 to fill up the tank.
UNIDENTIFIED MALE: Definitely it's terrible, big, big problem in my life.
WILSON: It all has to do with the skyrocketing price of oil. Now at the all time high of 57 bucks a barrel. And there's no sign it that's coming down any time soon because...
JERRY TAYLOR, CATO INSTITUTE: China has increased demand dramatically as has India over the past couple of year. U.S. demand hasn't changed all that much. But the fact is you have...
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