White House doesn’t fear inflation, eyes oil costs (AP) – 38th Edition

24 02 2011

US President Barack Obama (C) departs after making a statement on Libya with US Secretary of State Hillary Clinton (L) at the White House in Washington, DC. Obama told the world Wednesday to unite to hold Libya accountable for a vicious protest crackdown, stiffening a US response to the crisis that critics had cast as too mild.(AFP/Jim Watson)AP – The United States economy has “tremendous potential to grow” without fueling inflation, the White House said Wednesday in a generally upbeat report to Congress even as officials said they were monitoring the effect of Mideast turmoil on oil prices, which could drive up consumer costs.

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