From your follow up: Economists say that higher prices at the pump dampen growth because consumers have less discretionary income to spend, but also can boost inflation. It is still unclear which of these two factors will dominate.
Dampened growth and inflation are NOT mutually exclusive. Think Stagflation.
Jimmy Carter redux.
6 posted on 04/27/2011 10:37:32 AM PDT by demsux
(Obama: THE job destroyer)