Federal Reserve Bank of Cleveland President Loretta Mester says she sees no evidence yet that market volatility and oil’s sharp price decline have spilled over to the broader U.S. economy by denting risk-taking and the availability of credit.

“My current expectation is that the U.S. economy will work through this episode of market turbulence and the soft patch of economic data to regain its footing for moderate growth,” Mester said, according to the text of a speech Friday in Sarasota, Florida.

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