The new headquarters of the European Central Bank (ECB), building at right, under construction on the water front of the River Main in Frankfurt, Germany, Wednesday, Sept.24,2014. (AP Photo/Michael Probst)
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U.S. jobs numbers Friday will probably confirm that the fast-recovering American economy has reached the point where the Federal Reserve can finally halt its massive bond-buying stimulus.The contrast between the U.S. and eurozone economies has grown increasingly stark, adding to the pressure on the ECB and European leaders to revive growth in their corner of the world.ECB President Mario Draghi has said the bank wants to push its balance sheet back up to the levels of early 2012, or about 3 trillion euros, compared with 2 trillion euros now.Inflation in the eurozone is expected to fall to 0.3 percent in September, its lowest level in nearly five years.The U.S. economy looks to be on course for growth of about 2 or 2.5 percent this year, and the Federal Reserve intends to halt its bond-buying program in October.Noting how earnings growth lagged behind inflation in the United States, the eurozone, Britain and Japan in the second quarter, the investment bank predicted central banks would take their time to start raising record-low interest rates with the Fed only doing so in the third quarter of next year.
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