Fed official says moderate recovery to continue

07/15/2010 | CNBC

Jeffrey Lacker, president of the Federal Reserve Bank in Richmond, Va., said that persistent unemployment and a struggling housing market are unlikely to derail the nation's moderate economic recovery. Lacker acknowledged that monetary policy remains at "emergency levels," with low interest rates and other stimulus measures in place. "Recognizing the right time to begin normalizing our monetary policy settings is going to be hard, and reasonable people can differ about this," Lacker said.

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