Wednesday 24 January 2018

US economy 'to accelerate by up to 3pc'

Sheets of five dollar notes are fed through a sorting machine
Sheets of five dollar notes are fed through a sorting machine

The US economy should accelerate in the second quarter to an annual growth rate of 3pc or more, but it may not be clear for some time if the pick-up is sustainable, a Federal Reserve official said.

Federal Reserve Bank of Atlanta president Dennis Lockhart also said he expected the US central bank to have run down its bond-buying programme by December and to start raising interest rates in the second half of next year.

Mr Lockhart said: "It may not be clear for several months, or even quarters, whether the US economy is undeniably on a stronger and sustained growth path around a run rate of 3pc."

Irish Independent

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