Santomero sees bounce back in US economy

Post-hurricane rebuilding will help the U.S. economy bounce back in 2006, Philadelphia Federal Reserve President Anthony Santomero said in comments published on Friday 30 September.

In an interview with Britain's Financial Times newspaper, Santomero said he expected a rebound "as the rebuilding and increased spending builds its own expectations of further good times."

However, the impact of hurricanes Katrina and Rita would contribute to slightly weaker growth in the second half of 2005, he tol