Fed Says Government Shutdown To Hurt Fourth Quarter U.S. Growth

wochit business
October 03, 2013 AT 11:15 AM
ATLANTA (Reuters) - The partial shutdown of the U.S. government after Congress failed to agree on a plan to fund operations will hurt growth in the last quarter of this year, a top Federal Reserve official said on Thursday. "If it is protracted then I would expect there would be some measurable impact at least in fourth-quarter growth," said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta. Speaking to reporters at a conference at the Atlanta Fed, Lockhart said the Fed's decision not to taper its bond buying stimulus of the economy was vindicated by the fiscal impasse. ...