Greenspan Says Oil Costs Starting to Pinch Economy

Apparently only now just waking from a long nap, former Fed chairman Alan Greenspan said that high-priced energy ? specifically oil ? is starting to affect the U.S. economy. Reuters is covering the story.

“The United States, especially, has been able to absorb the huge implicit tax of rising oil prices so far,” Greenspan told the Senate Foreign Relations Committee in his first congressional testimony since leaving the U.S. central bank at the end of January. “However, recent data indicate we may finally be experiencing some impact.”