The sky-high price of energy and food have contributed to Fed latest report that the economy is generally weak. US economy has not been yet fully recovered from the economic crisis that hit the country months ago, now, another turmoil for US economy to survive.
Over the past week, Federal Reserve Chairman Ben Bernanke and his Fed colleagues have been sounding an ever-louder alarm against inflation. Given those concerns, Bernanke has signaled that the Fed's rate-cutting campaign, started last September to bolster the weak economy, is probably over for now.
Many economists predict the Fed will leave its key rate at 2%, a four-year low, when it meets next, on June 24-25.
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