Core inflation low, US economy good says Stern

Minneapolis Federal Reserve President Gary Stern provided an upbeat assessment of the US economy in a speech on Thursday 10 February, saying core inflation remains low and that the economy should grow at a 3.5 per cent to 4.0 per cent range.

"The next year or two already looks like prospects for the economy are good," Stern said in the speech to a local business group.

Forecasting growth of up to 4.0 per cent was "not going too far out on a limb" given positive fundamentals for employment, sol