Ref:US economy- Feguson see "balaced" risks.
Scott:
Thanks for that report,I do particularly like the bit about 'blow out' quarter,can always use one of those can't we.<g>
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Thursday September 17, 3:15 pm Eastern Time
Ferguson sees ''balanced'' risks for U.S. economy
KANSAS CITY, Mo., Sept 17 (Reuters) - Federal Reserve Governor Roger Ferguson said on Thursday the risks for the U.S. economy were balanced between inflation and the threat of a sharp slowdown.
''I do see the risks are balanced,'' he told reporters following a speech here. ''Earlier this year, I was worried more about inflation, but the risks are much more evenly balanced now.''
He said, however, that nothing was etched in stone and that the Fed would be looking very carefully at all incoming data to evaluate the appropriate course of monetary policy.
''It's important to be as forward-looking as possible,'' he said, adding it was important to recognize that ''monetary policy takes time'' to affect the real economy.
He reiterated Greenspan's comments on Wednesay that the Group of Seven rich nations were not planning a coordinated interest-rate cut to spur world growth and stem the spreading financial problems.
''I think what the chairman said was that there were no current plans for coordinated action, but that does not preclude individual central banks from taking actions they think are appropriate based on the evidence that they see and the risks as they see them,'' he said. |
