Oil Prices skids,Inflations follows too?

Oil prices now three months low of $118.US,from high of $149 this months.Many in the world breathes a sigh of relief, that this dragon can be caught and slayed.The Fed, battling inflations and the other mortgage crisis,chose to ignore inflation now that oil seems to be spilling lower and lower over the summer.US stocks ,not the bird kind had a short rally,the biggest one day gain since April 1st.However, it voted to hold the benchmark at a historical low 2 percent,citing 'downside risks to growth'.If the price trends of oil continues to flows lower, the world have be saved yet.Inflation dragon slayed,let it not rise again.Otherwise,the interest rate dragon may forces the world into recession,coupled with the high price of oil.It will have to live with less use of oil in their daily life.It is simply unbearable.Watch this update.