Cleveland Fed chief sees sustainable expansion
Cleveland Federal Reserve President Sandra Pianalto told a business conference on Thursday 7 October that the U.S. economy appears to be in a self-sustaining expansion, with both inflation and inflation expectations low.
"During the most recent four quarters, GDP (gross domestic product) growth has picked up and is now running at a more solid pace, between 3-1/2 and 4 percent," Pianalto told a Cincinnati USA Partnership business conference.
Energy costs can be inflationary "but today I am not s
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