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Post by bot on Nov 18, 2013 12:27:22 GMT -5
Fed's Dudley growing more hopeful about economy
WASHINGTON (MarketWatch) - There are signs that the economy is growing stronger, said William Dudley, the president of the New York Federal Reserve Bank, on Monday. Dudley said he was feeling "more hopeful" due to the third quarter GDP and October job report. The drag on growth from the cuts in government spending should continue to abate at the same time that the fundamental underpinnings of the economy are improving, Dudley said in a speech at the Queens College in Flushing, NY. As a result, growth should strengthen a bit next year and even more in 2015, he said. Dudley quickly added that stronger growth remains a forecast and not a reality and substantial uncertainty remains. The New York Fed president always has a vote on the Fed's policy-setting committee.
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