Poor growth will curb inflation: Fed's Pianalto

The impact of the housing crisis on the rest of the United States economy will help dampen price hikes, says Sandra Pianalto, the president of the Cleveland Federal Reserve.

Pianalto, a voting member of the Federal Open Market Committee (FOMC), said she continued "to believe that the economy's inflation trend will move lower over the forecast horizon as the growth rate of the economy slows and the influence of energy and import prices diminishes."

Rising oil prices coupled with falling housing