Fed's Ferguson on the economic outlook for the US
"The U.S. economic expansion appears to be solidly on track," Ferguson said in the speech at Howard University. "Nevertheless, the outlook for real activity faces a number of significant risks, including the possibility that house prices and construction could retrench sharply and that energy prices could rise significantly further."
"Give the considerable uncertainties facing the economy and the outlook for (Fed) policy, policy decisions in coming months will depend heavily on the implications of incoming economic data for future growth and inflation," he added.
Speech by Federal Reserve Vice Chairman Roger W. Ferguson, Jr. at the Howard University Economics Forum, Washington, D.C. March 3, 2006.
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