“Such soft patches are not that uncommon,” and that's all we're in right now, Philly Fed's...

|By:, SA News Editor

“Such soft patches are not that uncommon,” and that's all we're in right now, Philly Fed's Charles Plosser says. “Temporary factors” such as the Japan quake, Middle East events, and higher food and energy prices have all had an impact, adding that the economy withstood a similar “bump in the road” last year. Growth should rebound to 3.0-3.5% over the rest of the year, he says.