I may be dense.... however, how does rising oil prices due to disasters as well as short-suppy (due to China/India/Lack of Refinery Capacity) equate into a reason to put further brakes on the economy by raising interest rates?
If we had upward pressure in inflation due to something we could control, that would be one thing, but when it is due to "circumstances" and people are struggling ... how is higher interest rates going to bring down the price of a barrel of oil (I guess is my question)????
That will be Mr. Andrea Mitchell's legacy.