Economic recovery should continue at a moderate pace this year,and efforts to “speed up” the process would carry risks,Kansas City Federal Reserve President Esther George said today.
George offered her outlook during a lunch at the Central Exchange in Kansas City,her first public appearance since taking office Oct. 1 according to a recent Kansas City Star article.
The job puts her on the powerful monetary policy committee at the Federal Reserve in Washington.
George’s remarks left open whether she would support more action by the Fed to simulate the economy. At one point she said actions the Fed already has taken need “time to play out.”
In answering a question about future Fed actions,George noted that consumers need time to work off the high levels of debt that accumulated before the downturn. That effort slows spending and that slows business expansion and the recovery. “Efforts to speed up that process run some risks,” she said.
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