Federal Reserve Vice Chairman Jefferson states that rising energy prices could push up costs in other sectors.

Golden Finance reports that on March 27, Federal Reserve Vice Chairman Philip Jefferson stated that rising energy prices could push up costs in other sectors of the economy, but so far the increase has been within manageable limits. Jefferson said in a prepared speech for the Dallas Fed on Thursday, “The current rise in U.S. energy prices should have a relatively small impact on inflation, although consumers at the gas station are feeling higher fuel prices.” “Prolonged high energy prices could put upward pressure on the prices of various other products,” he added. “As policymakers, I will closely monitor whether these rising costs are reflected in the overall price system of the economy.” (Zhihui Finance)