Economic recovery to be sluggish, Fed official says

Nov 13, 2009 | 10:25 AM | Tatyana Shumsky

The economic recovery will be slow and uncertain throughout 2010 as credit remains tight and the necessity to phase out enormous government subsidies threatens recent improvement in key sectors like housing, banking and industrial production, according to Harvey Rosenblum, executive vice president and director of research at the Federal Reserve Bank of Dallas.

"We've kept the economy from going into depression 2.0," Rosenblum said at an American Copper Council meeting in Dallas. "Now we have to worry about withdrawing some of the stimulus from an economy that's gotten used to the life support and the subsidies."....

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