Phil Fed's Santomero on the recent business cycle

In a speech on 'A policymaker's reflections on the recent business cycle' given on 12 April, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the United States is on track for solid growth with relatively stable prices, but high oil prices could dent domestic demand.

"The bottom line is that oil prices persistently in the $50-per-barrel-plus range could slow the pace of domestic demand growth this year, though they should not jeopardize the expansion itself," Santomero said in

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