August 2, 2007 / 2:30 PM / 12 years ago

Real economy unhurt by subprime: Fed's Kroszner

WASHINGTON (Reuters) - Fallout from the subprime mortgage mess will likely persist for some time, but it is not yet affecting the real U.S. economy, Federal Reserve Governor Randall Kroszner said at a nomination hearing on Thursday.

Global stock and bond markets have been rattled by concerns of tightening credit in recent weeks, but Kroszner said U.S. economic fundamentals had not changed since Fed Chairman Ben Bernanke’s testimony to Congress two weeks ago.

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