Boston Fed's Minehan on the US economy

In a speech given on 11 September Cathy Minehan of the Federal Reserve Bank of Boston said the risks of both slower economic growth and higher inflation have grown this summer, complicating the job of monetary policy makers.

Addressing an audience at a business economics conference, Minehan said she expected underlying inflation to ease over the coming year as the economy softened to a growth rate a bit under 3 percent.

But she acknowledged that a sharp drop in recent housing data could lead to a

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