The U.S. Federal Reserve is well equipped to deal with any fallout from Europe’s escalating debt crisis, a top official said today.

“There’s absolutely no reason for people in the United States to get all in a dither,” Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal.

Mr. Plosser said that in the short run, uncertainty in Europe might even work in the U.S. economy’s favour, via lower U.S. interest rates and energy prices.

Hurrah! There’s an upside to insolvent latins.

In 2012, ‘top official’ is an oxymoron. And if Charlie Plonker thinks anyone with a brain is going to believe this bollocks, then he can go dither up himself.