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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
MARIA BARTIROMO, CNBC ANCHOR: Gasoline prices peaked last month as Hurricane Katrina hit the Gulf Coast. Ben Bernanke, chairman of the Council of Economic Advisers says gas prices should decline in the coming months. Unleaded gasoline today at 2.16. Mr. Bernanke joins us now from the White House this afternoon.
Good to have you with us, Sir, welcome.
BEN BERNANKE, CHAIRMAN, COUNCIL OF ECONOMIC ADVISERS: Hi.
BARTIROMO: First, let me get your thoughts on the impact of higher gasoline and higher crude prices in the economy for the rest of the year. We`ve been having a discussion this afternoon that the price of oil may very well cut into things by year end, but then perhaps the construction bill in the Gulf area will pick things up in `06. Your thoughts.
BERNANKE: Well, the energy prices are up quite a bit. The economy so far has shown a lot of resilience. Growth is still going strong. Consumers are still strong. So, I think that a much higher increase, the much higher oil prices, energy price would be a drag. But so far, the economy is withholding --withstanding...
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