NEW YORK, Oct 1 (Reuters) - Cleveland Federal Reserve President Sandra Pianalto said on Thursday she expects a gradual and bumpy recovery from a painful recession and is not worried that the Fed's extensive efforts to pump money into the economy risk igniting inflation.
'I believe there is enough slack in the economy to keep inflation subdued for some time. In this environment, I believe that maintaining the current accommodative policy stance helps to foster both the continued recovery of our weakened economy and the stabilization of inflation rates at levels consistent with price stability,' she said in remarks prepared for delivery to a conference sponsored by Market News International.
(Reporting by Kristina Cooke, writing by Mark Felsenthal; editing by Leslie Adler) Keywords: USA FED/PIANALTO (mark.felsenthal@thomsonreuters.com; +1 202 898 8329; Reuters Messaging: mark.felsenthal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'I believe there is enough slack in the economy to keep inflation subdued for some time. In this environment, I believe that maintaining the current accommodative policy stance helps to foster both the continued recovery of our weakened economy and the stabilization of inflation rates at levels consistent with price stability,' she said in remarks prepared for delivery to a conference sponsored by Market News International.
(Reporting by Kristina Cooke, writing by Mark Felsenthal; editing by Leslie Adler) Keywords: USA FED/PIANALTO (mark.felsenthal@thomsonreuters.com; +1 202 898 8329; Reuters Messaging: mark.felsenthal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.