U.S. Vulnerable To Global Slowdown, Volatility: Fed's Fischer

[Purveyor]

Source: Reuters

The U.S. economy could suffer, with inflation remaining too low, if recent volatility in financial markets persists and signals a slowdown in the global economy, the Federal Reserve's second-in-command said on Monday.

Fed Vice Chairman Stanley Fischer, however, warned about jumping to conclusions given that some past bouts of financial market turbulence have not harmed the world's largest economy.

His speech, less than a week after the Fed held interest rates steady, appeared to reinforce the view that a month-long plunge in world stocks and oil prices could stay the U.S. central bank's hand as it looks to continue raising rates this year.

"At this point, it is difficult to judge the likely implications of this volatility," Fischer told the Council on Foreign Relations in New York.

Read more: http://www.reuters.com/article/us-usa-fed-fischer-idUSKCN0VA35C

[Warpy]

1. In related news, water is wet

China's stock market takes a dump, the Dow loses nearly 3000 points.

I love how these idiots recite recent history and get praised for their prognostication. They remind me of court astrologers telling the king that the stars were in the same place the last time he got his ass kicked so maybe picking a fight with France that week wasn't the wisest course he could pursue.