KC Fed President: Economy Gaining Momentum

Despite the fiscal cliff, high unemployment and Europe’s the U.S. recovery is gaining momentum, said Esther George, president of the Federal Reserve Bank of Kansas City.

George, who will cast a vote when the Federal Reserve meets this month to set monetary policy, cited improved housing and auto markets as well as manufacturing’s ability to “hold up” in the face of the massive tax increases and spending cuts that Washington avoided by a last-minute vote on the fiscal cliff. The economy should grow more than 2 percent this year, she said, which would be more than the consensus of estimates.

Read more in the Kansas City Star

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