Fed's Plosser says inflation risks linger

02/7/2008 | CNBC

The Federal Reserve must stay alert to inflation risks given recent high oil and food prices, Philadelphia Federal Reserve President Charles Plosser said. "We cannot be confident that a slow-growing economy in 2008 will by itself reduce inflation," he said. The Fed's recent rate cuts will help the U.S. economy return to GDP growth of about 2.7% by 2009, Plosser said.

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