PHILADELPHIA, April 14 - Philadelphia Federal Reserve Bank President Anthony Santomero on Monday said it is too early to tell how the U.S. economy is faring even though much of the uncertainty about the war has lifted. "It's especially difficult to see how things will evolve over the next several quarters," Santomero said in introductory remarks at the Global Interdependence Center's annual spring conference. Santomero, who is not a voting member of the Fed's policy committee this year, repeated comments he made in a speech on Sunday that it was too soon to say the U.S. economy is back on track, but he noted that financial markets have begun to improve.
"The Fed has been maintaining an accommodative monetary policy stance to help reinvigorate the economy, create jobs and sustain growth. But we are in a period of delicate transition, and developments bear a close watching and careful analysis from all quarters," he said.//