Fed's Olson on the U.S. economy and fiscal outlook

In the speech 'Update on the U.S. economy and fiscal outlook' given on 12 October Mark Olson of the Federal Reserve said whether energy-related price pressures spilled over into non-energy prices would depend on a "host of considerations," including the willingness of producers to absorb these costs and accept lower profits.

"Needless to say, developments in this area will be the subject of intense scrutiny on my part in coming months," he said.

Olson also said surging energy costs and a storm

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