25 January 2001, 14:47  Fed's Ferguson still sees weak U.S. economy in early 2001 before upturn

LONDON (AFX) - Vice Chairman of the Federal Reserve Roger Ferguson said he still expects a "notable weakening" in the U.S. economy in the early part of the year, followed by a pickup in activity. In a press conference revealing a Group of Ten Report on Consolidation in the Financial Sector, Ferguson reiterated comments made earlier this month, adding "my views have not changed." Ferguson referred to his Jan 12 speech in which he gave his outlook on the U.S. economy for 2001.

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