Richmond Fed chief says recession could end this year

Published May 5, 2009 at 4:01 a.m.
The U.S. recession may end this year as consumer spending and production rebound, Federal Reserve Bank of Richmond President Jeffrey M. Lacker said yesterday. “It now appears as if the pace of contraction is diminishing,“ Lacker said in a speech to business leaders in Charlottesville. “At some point later this year, activity will bottom out and begin expanding again.“


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