Fed's Poole says US inflation under wraps

U.S. inflation is under control right now and the economy is unlikely to suffer from "cascading weakness," St. Louis Federal Reserve Bank President William Poole said in an interview on Tuesday 5 September.

Poole told Bloomberg Radio he would like to see some gauges of inflation lower but noted inflation expectations have come down.

"That situation is under control," said Poole, who is not a voting member of the Fed's policy-making body this year but will be in 2007.

"I think the weakness has

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