Fed's Moskow sees no significant recession risk
INDIANAPOLIS, Dec 5 (Reuters) - Federal Reserve Bank of
Chicago President Michael Moskow on Tuesday said he does not
see a significant risk of a U.S. recession, noting there are
still areas of considerable strength throughout the economy.
"I don't see a significant risk of recession," Moskow told
reporters after speaking to the Economic Club of Indianapolis.
"I think there has been slowing in the economy, but there are
still pockets of strength as well."
He noted, for example, that although residential
construction and auto sales have slowed, both remain at high
levels that do not pose a recessionary risk.
Regarding inflation, Moskow said he sees risks of higher
prices, especially from the energy sector, but noted that the
recent spike in energy prices has not spilled over into the
core inflation rate. But he said he could not rule out that
such a spillover effect could be seen in the future.
((--Washington newsroom, 202-898-8370, fax 202-898-8383,
washington.economic.newsroom@reuters.com))
REUTERS
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