Minneapolis Fed president upbeat about economy

Gary Stern of the Minneapolis Fed said he thinks there is a low probability of deflation in the US, but would not rule it out. The problem in Japan, he said, is inadequate growth of the money supply and allocation of too many resources to declining industries.

Source: Associated Press

The U.S. economy has been growing over the last six quarters and the growth is likely to accelerate, the president of the Federal Reserve Bank of Minneapolis said Sunday evening.

"Overall, consumer balance sheets look

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