Fed's Stern: Perspectives on the economy

In the speech 'Perspectives on the economy' given on 29 March Gary Stern of the Federal Reserve Bank of Minneapolis said the United States economy is "anything but fragile" and that the worst of the housing market crunch might be over.

But he said the Fed must remain committed to keeping inflation low -- especially as a probable slowdown in work force growth raises the potential for higher wage compensation.

"I would not expect inflation to accelerate even if compensation does, as long as the

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