Increased energy prices being absorbed by retailers contributes to DOW rebound
Reported by Chrish - June 15, 2006
Rebecca Gomez reported today 6/15/06 on The Big Story that Federal Reserve Board chairman Ben Bernanke's announcement today that inflation has not been passed on to the retail level was responsible for the large increase in the stock market.
She refuted John Gibson's blatant attempt to tie Iraq to the good numbers: "Things seem to go well in Iraq, kill some insurgents, and the Dow goes up?"
There's a lot more going on, of course. Bernanke reportedly said the economy was very flexible and is absorbing higher energy costs so it is not being felt at the retail level, where, Gomez said, we shop and get our haircuts, referring to Gibson's new "do".
Yes, the Eddie Munster look is gone, replaced by the Dennis the Menace look. I wouldn't even comment on it except that you're not watching FOX so I have to keep you apprised.
Here's a peek.
Oh, just kidding. here it is:
