Fed's Gramlich: Iraq impact 'imponderable'

Ed Gramlich of the Federal Reserve said on Thursday that a conflict with Iraq would have consequences for the US and world economy but that the effects were impossible to predict.

Source: Reuters

Federal Reserve Board Governor Edward Gramlich said on Thursday that the impact of a war with Iraq on the U.S. economy was impossible to forecast, calling it a ``big imponderable.''

While standard economic theory has held that war is generally stimulative, that does not account for a conflict that coul

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