Fed officials downplay worries over U.S. growth

(Reuters) – Despite recent signs of a possible slowdown, the growth story for the U.S. economy remains intact, top Federal Reserve officials said on Friday, suggesting they will continue to support reductions in the Fed’s massive bond-buying program.

The Federal Reserve Bank of St. Louis' President and CEO James Bullard speaks during the "Hyman P. Minsky Conference on the State of the U.S. and World Economies," in New York

Recent bad weather in large portions of the United States is having an impact on economic activity, but that is no reason for less optimism about economic prospects for the rest of the year, St. Louis Federal Reserve President James Bullard told CNBC television on Friday.

His remarks came as the U.S. government slashed its estimate for fourth-quarter growth as consumer spending and exports were less robust than initially thought, suggesting some loss of momentum heading into 2014.  Read more

Categories: Economics, United States

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