Critical U.S. Supply Line Is Disrupted
Ben S. Bernanke, chairman of President Bush’s Council of Economic Advisers, acknowledged that the hurricane will cause economic distress but predicted in an interview on CNBC yesterday that those effects will not be long-lasting. “My guess is though that as long as we find that the energy impact is only temporary, and there is no permanent damage to the infrastructure . . . the effects in the overall economy will be fairly modest,” Bernanke said.