Full Recovery for US Economy ‘Long Way Off’: Fed Officials

April 14, 2010  |  

(CNBC.com) — U.S. Federal Reserve officials said on Tuesday the economy is operating well below full capacity and full recovery is a way off, in comments suggesting no urgency to begin tightening financial conditions.

“The pain is still with many of us to be sure, and we are a long way from a full recovery,” Richmond Federal Reserve Bank Jeffrey Lacker told a regional Fed forum.

Lacker, known to be one of the more aggressive anti-inflation hawks among policy-makers, said there were signs of stabilization in housing markets, but overbuilding means that sector won’t help lift the recovery.

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