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U.S. Economy Remains Sound And Will Overcome Recent Market Turbulence

International News

USA Economy www.purnartha.com
The U.S. economy remains sound and will overcome recent market turbulence, allowing the Federal Reserve to continue tightening its monetary policy as planned, a top Fed official said on Thursday. Cleveland Fed President Loretta Mester said that while the global selloff in stocks and oil markets through January poses risks, she is not about to cut her expectations of continued U.S. economic growth and labor market improvement. Solid” jobs and income growth “suggest that underlying U.S. economic fundamentals remain sound,” Mester said at a Market News International conference, adding inflation should rise to a 2-percent target even if it takes a bit longer than planned.