June 16, 2008 / 1:15 PM / 12 years ago

Washington Post says Bernanke will not raise rates

Federal Reserve Board Chairman Ben Bernanke waits to speak at Harvard senior class day in Cambridge, Massachusetts June 4, 2008. REUTERS/Adam Hunger

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke does not intend to raise interest rates because he is more worried about soaring oil prices slowing global growth than he is about their firing inflation, the Washington Post said on Monday.

A column by Robert Novak, citing unnamed “sources close to him,” said Bernanke “has no plans for a raise.”

The Federal Reserve declined to comment on the Washington Post column.

The column said there was “an unusual difference in outlook on the global economy” between Bernanke and European Central Bank president Jean-Claude Trichet, who has hinted that the ECB will raise rates to combat inflation.

Writing by Glenn Somerville, Editing by Chizu Nomiyama

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