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Fed’s Lockhart Says U.S. Recovery to Be Slow, Drawn Out
Federal Reserve Bank of Atlanta President Dennis Lockhart said recent U.S. economic reports including weakness in the labor market indicate the recovery may be losing momentum after last year’s fourth quarter. “The indicators of economic strength so far in 2012 have been underwhelming,” Lockhart said in a speech to the Tennessee Bankers Association meeting in Chicago, which repeated his remarks from two speeches last week. “I expect the recovery process to be slow and drawn out. I think the most reasonable expectation is moderate growth, a slow and possibly halting decline of unemployment, with inflation ... (full story)