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One America News Network
13 Feb 2018
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Cleveland Fed’s Mester: market rout not impacting economic outlook

February 13, 2018  

By Howard Schneider  

DAYTON, Ohio (Reuters) – The recent stock market sell-off and jump in volatility will not damage the economy’s overall strong prospects, Cleveland Fed president Loretta Mester said on Tuesday in warning against any overreaction to the turbulence in financial markets.  

“While a deeper and more persistent drop in equity markets could dash confidence and lead to a pullback in risk-taking and spending, the movements we have seen are far away from this scenario,” Mester said of a market rout that cut more than 10 percent from major stock indexes.  

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