LSU economist says government can reduce gas prices

LSU economist Joseph Mason argues in a new report that there are steps government can take to reduce gasoline prices. The report, “Monetary Policy, Gas Prices and the Impact on Small Businesses,” says the Federal Reserve’s commitment to near-zero interest rates affects commodity pricing, which in turn affects gas prices at the pump. “The Fed’s inflationary bias fuels energy costs,” Mason says. “While the White House has backed the Fed’s pursuance of soft monetary policy, it has allowed three years to pass without creating multifaceted energy policy.” The report was sponsored by the Small Business & Entrepreneurship Council. Read it here.