Fed officials forecast "tepid" recovery

11/11/2009 | Reuters

Federal Reserve officials are warning that economic recovery will be weak and choppy. "The strength and durability of the expansion is in question. High unemployment, weak job growth and paltry wage increases are a recipe for sluggish consumer-spending growth and a tepid recovery," said Janet Yellen, president of the Federal Reserve Bank of San Francisco. Richard Fisher of the Federal Reserve Bank of Dallas said reliance on economic stimulus might eventually weigh on recovery. "The more demand you steal from the future, the less future demand there is for you to steal," he said.

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