Excerpt
RAY SUAREZ (Newshour): The U.S. economy gave off new signs of momentum today, from retail sales to the Federal Reserve's latest outlook. They provided reasons for optimism, even as rising gas prices gave cause for concern.
American shoppers are picking up the pace. Retail sales rose more than 1 percent in February, the most in five months. That news followed Friday's report that employers added another 227,000 jobs in February. Consequently, the Federal Reserve said today the economy is expanding moderately.
But the Fed also warned that the spike in gas prices will feed inflation, at least temporarily. In fact, with gasoline up 30 cents a gallon in the past month, President Obama is feeling the political heat. He acknowledged as much yesterday in Washington.
PRESIDENT BARACK OBAMA: As long as gas prices are going up, people are going to feel like I'm not doing enough. And I understand that, because people get hurt when they're going to that gas station and seeing those prices rise every day.
COMMENT: Truth, there's little ANY President can do when it comes to prices for anything.
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