No recession coming says St Louis Fed chief

St. Louis Fed president William Poole on Friday 2 March rejected fears that the U.S. economy was heading into a recession, saying that while there "could be a recession," one isn't likely, echoing comments this week by former Fed chairman Alan Greenspan.

"We do not see a recession coming," he told a business audience after delivering a speech on energy and the U.S. business cycle at the American Chamber of Commerce.

"At this point it seems to me there is no pressing need for any immediate action,"

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