U.S. economy ‘very strong’ despite market worries – Fed’s Quarles

FILE PHOTO: Federal Reserve Vice Chairman for Supervision Randal Quarles addresses the Economic Club of New York in New York
FILE PHOTO: Federal Reserve Vice Chairman for Supervision Randal Quarles addresses the Economic Club of New York in New York City, U.S., October 18, 2018. REUTERS/Brendan McDermid/File Photo

January 17, 2019

NEW YORK (Reuters) – The U.S. economy and labor market is strong with inflation contained, even while financial markets have recently been focused on the risk that global economic growth will slow further, a Federal Reserve governor said on Thursday.

“Clearly markets are more attuned currently to downside risks but the core, base case remains very strong” for the U.S. economy, Randal Quarles, the central bank’s vice chair for supervision, said at an insurance industry conference.

(Reporting by Jonathan Spicer and Suzanne Barlyn)

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