Bernanke said that “some part” of the slowdown was due to temporary factor such as higher food and gasoline prices and disruptions to manufacturing because of lack of key parts from earthquake ravaged Japan.
But the Fed chairman said it was possible that some of the slowdown might be to longer-lived issues that could persist into 2012. He cited weakness in the financial sector, the housing market and consumer balance sheets as three headwinds.
But the Fed chairman said it was possible that some of the slowdown might be to longer-lived issues that could persist into 2012. He cited weakness in the financial sector, the housing market and consumer balance sheets as three headwinds.
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