Philadelphia Fed's Santomero on global economy

In the speech 'Challenges and opportunities in a global economy: Perspectives on outsourcing, exchange rates, and free trade' given on 3 December, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy should grow about 4 per cent next year, giving the Federal Reserve room to continue raising interest rates at a measured pace.

Santomero said he expects real gross domestic product growth to be in the neighborhood of 4 per cent for 2005, slightly above his previous

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