Richmond Fed chief: Economy improving

Published Aug. 27, 2009 at 11:01 p.m.
The outlook for the economy is improving, but a recovery is likely to be “slow and uneven for some time,“ the chairman of the Federal Reserve Bank of Richmond said yesterday as new government figures indicated the recession is waning. “Currently, the latest data indicate that the economy is leveling out,“ Richmond Fed President Jeffrey Lacker said yesterday in a speech to business and community leaders in Danville, the center of a textile-manufacturing and tobacco-farming region with Virginia’s highest metropolitan-area unemployment rate at 12.8 percent.


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