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US Federal Reserve upbeat on US economy

The US Federal Reserve has today issued a statement regarding the US economy suggesting that economic activity in the US is strengthening and the employment market is gaining momentum. This comes at a time when their European arena is in turmoil with the Greek debt debacle now impacting upon other countries in the Eurozone.

Despite the fact that the US Federal Reserve has issued a positive statement on the US economy it also looks as though US base rates will remain at near 0% for some time to come. There is growing concern in international investment and international debt markets that problems in Greece could impact other European countries and then potentially impact other countries around the world. It is difficult to put into context the problems in Greece and the damage the slow response by the European Union and International Monetary Fund has caused.

Despite the fact there are problems within Europe there is no doubt that the US economy is the engine room of the worldwide economy and vital to any short, medium and long-term recovery. It will be interesting to see whether there is any impact from the European debt debacle within US markets and indeed how the European Union will respond in the short term.

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