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St. Louis Fed President James Bullard said on Friday that the risk of the slowdown in China and other concerns over the global economy, which led to the delay of the Fed's interest rate hike in September, almost dissipated.
"The probability of a hard landing in China is no higher today than it was earlier this year," he noted.
Regarding the U.S. economy, Bullard said that U.S. labour markets have largely normalized, and it is likely that the inflation will return to 2% target when oil prices will stabilise.
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