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Fisher says economy may recover only slowly.

Global Banking News-29 May 2009-Fisher says economy may recover only slowly(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 29 May 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Federal Reserve Bank of Dallas president, Richard Fisher, has opined that the US economy may be slow to recover.

Fisher said the economic slump would probably persist until next year as consumers remain cautious. He added that the outlook for inflation remains meek. Saying that the economy faces a 'very slow slog to recovery,' Fisher said the recession 'will moderate in the current quarter, and then we are likely to bounce along the bottom for a while.'

Fisher also repeated his view that the US unemployment rate would reach 10 percent.

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Publication:Global Banking News (GBN)
Date:May 29, 2009
Words:147
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