Fed's Lockhart: No Exit for Some Time |
Wall Street Journal - Sep 30, 2009 |
The Federal Reserve probably has a while longer to wait before it needs to start withdrawing its market support programs in earnest, the president of the Federal Reserve Bank of Atlanta said Wednesday.
"I think it may well be some time before comprehensive exit need be under way," Dennis Lockhart said in prepared remarks for a speech at an event hosted by the University of South Alabama's Mitchell College of Business.
Though the U.S. economy is "unquestionably" improving, Mr. Lockhart recommends only "measured optimism" on the recovery in the economy and financial markets. Unemployment is likely to rise further above the current 9.7% before it falls; the residential housing market remains weak; and the commercial sector still poses a real threat, he said. The progress made so far has been achieved with considerable government and central bank stimulus, most of which remains in place.
Read Full Article from Wall Street Journal
- Posted: 2009-09-30 11:36:36
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