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Fed Director Says Oil Price Fall Hurts US Economy 

Mr. Wayne Angell, a director of the US Federal Reserve Board, last week said that the fall in oil prices would have a "snowballing" effect on the US energy industry, and that "the immediate impact on that industry, I think, is more pronounced than the long-run increase in consumer purchasing power." Mr. Angell argued that lower oil prices would not necessarily fuel economic growth and that "there are...