Oil costs may slow but not derail growth says Greenspan
Greenspan told Congress that higher oil prices since 2003 end likely trimmed this year’s growth by about three quarters of a point, following a half-point drag last year. The economy grew 4.4 percent last year, with private economists forecasting around 3.5 percent this year. Bernanke added oil prices burden family budgets though overall impact remains modest.
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White House
Hurricane strikes Mexico's Yucatan disrupts tourist corridor
The hurricane battered the Yucatan Peninsula with Puerto Aventuras and Tulum hit hard while Cancun and nearby towns faced power outages and mass evacuations. Pemex evacuated 15,000 oil workers as hotels prepare to reopen amid widespread damage. Tourists sought shelter and flights home as officials assessed wrecked streets and shattered windows.
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