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

In the speech 'U.S. economic outlook' given on 22 August Michael Moskow of the Federal Reserve Bank of Chicago said the FOMC's resolve to achieve price stability and sustainable growth remains certain.

"The credibility of the Federal Reserve is an important factor in the economy's long-term health, and it is an asset that we do not treat lightly. In the 1970s, we saw how rising inflation and eroding Fed credibility can disrupt the economy, and in the early 1980s, we saw the painful effects on

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