Ferguson: Can't predict war impact on economy

Federal Reserve Vice Chairman Roger Ferguson said on Wednesday it is very difficult to gauge how a potential war with Iraq would affect the U.S. economy.

"A war is one of those things that one simply can't model," Ferguson said in response to audience questions after a speech at Vanderbilt University here.

"The impact of a Gulf war on the U.S. economy is, I think, unpredictable -- unpredictable doesn't mean necessarily ... that everything would be negative, it's just literally unpredictable," h