Higher energy prices act like a tax. They reduce the disposable income people have available for other things after they've paid their energy bills.

Well, I think the global economy is in the position for continuing good growth with inflation well in check.

And one of our points of continuing conversation with our trading partners is the urgency of their taking steps to remove barriers to their improved growth performance.

But clearly an economy that's growing and expanding like this one - and it certainly is doing that with high GDP output, employment numbers strong, capacity utilization strong - that's an environment in which the Fed needs to continually be alert to early signs of inflation.

Well, I think the best thing we can do for the short term is move good energy legislation through to the Congress; I'm encouraged that there's some prospect for that now.

We must start with the reality that corporations cannot guarantee anyone a lifetime job any more than corporations have a guarantee of immortality.

Higher energy prices act like a tax.