Fed's Fischer sees U.S. economy overcoming dollar rise and foreign weakness

WASHINGTON (MarketWatch) - The U.S. economy is overcoming the "sizable shock" from the dollar's appreciation and foreign weakness, said Federal Reserve Vice Chairman Stanley Fischer, on Thursday. "The U.S. economy appears to be weathering them reasonably well," Fischer said in a speech to a conference on rate policy hosted by the U.S. central bank. The dollar has appreciated by 15% since July 2014, and it will remain a drag on gross domestic product well into next year, Fischer said. The Fed Vice Chair said the strong dollar is also holding down inflation. Overall inflation, as measured by......(read more)

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