Fed's Parry still sees modest U.S. expansion

US - A top Federal Reserve policy-maker said on Friday he still thinks the United States is in a modest economic expansion, despite weaker-than-expected growth figures for the June quarter.

San Francisco Federal Reserve President Robert Parry said a big rise in imports affected the second-quarter data, which was "at least one reason to expect more positive growth in the near term."

"While these new numbers contain some new twists, they don't change my basic view that we're in the midst of a mod

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