Fed's Olson on the economic outlook

In the speech 'Economic Outlook' given on 15 June Mark Olson of the Federal Reserve said the Fed should be able to raise interest rates gradually, although economic events would ultimately dictate the pace. He also said that although US inflation has picked up, it remains moderate.

"As (Fed) Chairman Greenspan indicated last week, economic developments will determine the level and term structure of interest rates," Olson said in his remarks to the Charlotte, North Carolina, Regional Partnership.

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