The US economy woes are not due to oil price drop, opine economists, who rule out the common view of financial media, government officials and academic that attribute the oil price drop to the American economic woes. The oil price fall will be detrimental to oil producing nations, but it's a boon to the rest of the economy.
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Federal Reserve official Jeffrey Lacker on Friday repeated his call for the central bank to consider hiking interest rates in June, and said there was no shame in adjusting them lower again if economic data demanded it.
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