October 24, 2018 / 5:57 PM / 9 months ago

Prolonged market slump could bruise U.S. economy -Fed's Mester

NEW YORK, Oct 24 (Reuters) - A “prolonged” fall in U.S. stock markets and a build-up in risks would begin to weigh on the U.S. economy, though there are no signs of a pending recession, Cleveland Federal Reserve President Loretta Mester said on Wednesday.

The sharp, nearly month-long drop in major equities indexes has not on its own caused Mester to adjust her expectation to continue gradually raising interest rates, she said, adding that for now data is pointing to a “strong” U.S. economy. (Reporting by Jonathan Spicer Editing by Chizu Nomiyama)

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