Chicago Fed's Moskow on U.S. economic outlook

In the speech 'U.S. economic outlook' given on 6 November Michael Moskow of the Federal Reserve Bank of Chicago said U.S. economic growth is likely to bounce back from the third quarter, when real gross domestic product rose by 1.6 percent.

"My baseline forecast is that GDP growth will pick up from the weak third quarter and average somewhat below its potential growth rate over the next year or so," he said, terming potential growth "around 3 percent."

Moskow said a downside risk to the economy

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