U.S.: This Economy Could Shrug Off The Asia Effect Again

Strong domestic demand continues to offset weakness overseas

Once again, an ill wind from Asia is buffeting the U.S. economy. This time it's coming from Japan. The yen's persistent weakening in recent weeks finally prompted international efforts to try and prop it up, although that attempt may go for naught without fundamental market reforms in Japan. The question for the U.S. outlook is: Will Round 2 of the Asian crisis have any more impact on overall growth and inflation than Round 1, which the economy barely noticed?

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