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Federal Reserve's Kocherlakota: little chance global weakness will slow US

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A top Federal Reserve official said on Tuesday he expects little negative effect on the US economy from global weakness, though the demand for some financial products could come under pressure.

[NEW YORK] A top Federal Reserve official said on Tuesday he expects little negative effect on the US economy from global weakness, though the demand for some financial products could come under pressure.

Minneapolis Fed President Narayana Kocherlakota added that the US labour market, which has improved with a sharp drop in unemployment to 5.6 per cent, has "more room to run" in taking up so-called slack.

REUTERS

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