Treasury Secretary Tim Geithner said on Meet the Press this weekend that he wasn't terribly concerned about gas prices getting in the way of the recovery. He might be right that the momentum of the economy is stronger than the headwind of expensive gas. And yet...
In the Bush years, it took five years for gas prices to rise from $2 to $4 dollars per gallon. In 2009, prices collapsed. But in barely two years, gas prices have retraced their ominous rise and are again scratching on the window of the dreaded $4 average.
See more graphs at St Louis Fed.
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