Bernanke says US economy can absorb oil prices

Federal Reserve Board Governor Ben Bernanke said on Monday 4 October that despite the sharp rise in world oil prices the US economy should be able to withstand the impact as long as they don't rise much further.

"Obviously the oil prices are a drag at the current time. But we think the economy can accommodate them at their current levels as long as they don't rise substantially more," Bernanke told reporters at an international bankers' conference here.

"There's a difference between rising and