Fed's McTeer: Faster economic growth 'essential'

US - Federal Reserve Bank of Dallas President Robert McTeer, who pushed unsuccessfully for lower interest rates at a Fed policy meeting last week, said on Monday it was essential for the U.S. economy to grow faster.

McTeer said it was likely inflation would drift lower, but admitted he did not know how far that process could go before the United States saw widespread price declines, ABC News reported.

"I don't know at what point welcome disinflation might morph into unwelcome deflation," McTeer