WASHINGTON, D.C.: The stronger dollar and China’s currency devaluation are clouding the US economic growth outlook, a top Federal Reserve official said Monday, while reaffirming that he still expects an interest rate hike this year.
Dennis Lockhart, head of the Atlanta Fed and a member of the policy-setting Federal Open Market Committee, said that the US economy’s recovery from the Great Recession in mid-2009 notched an average annual rate of 2.1 percent, “slow growth” compared with other post-World War II recoveries.
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