Richmond Fed president sees economy growing next year

Published Nov. 17, 2009 at 3:20 p.m.
The economy should grow at a reasonable pace next year, the president of the Federal Reserve Bank of Richmond told state legislators this morning. In housing, Jeffrey M. Lacker said several indicators of sales and construction activity hit low points earlier this year and have already risen modestly. “Housing is no longer a major drag on GDP growth,“ he said, referring to gross domestic product, which is the sum total of goods and service produced in the country.


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