US economy can stand Fed 'mistake' says Poole

St Louis Fed president William Poole said on Friday 24 February that the U.S. economy can cope if the Federal Reserve makes a "mistake" and raises interest rates too high.

"Could we make a mistake by carrying the restriction too far? The answer is yes we could. But we have to balance the inflation risk against the risks of undershooting on progress in increasing employment," Poole told reporters.

"The economy is not fragile. There is a great deal of momentum, and should we make a policy mistake