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(CEP News) - Financial markets "remain stressed" from a declining housing sector in the United States, Fed Vice-Chairman Donald Kohn said on Thursday morning at a monetary policy conference hosted by the European Central Bank.
The central banker added that the effects of the credit crunch are continuing to work themselves out, and that it was too early to tell whether countries had decoupled from the United States. Kohn also said the rise of goods and energy prices is confusing given slowing growth worldwide, and argued that some countries should focus on fighting inflation and restraining growth. Regardless, all central banks should monitor inflation carefully, he said. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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