Fed's Parry: Economy still in soft patch

President Robert Parry of the San Francisco Federal Reserve said Wednesday the Fed still has room to lower rates in spite of forecasts of stronger growth.

Source: Reuters

San Francisco Federal Reserve President Robert Parry said on Wednesday the economy is still stuck in a soft patch and the prospects are for only a modest pick-up in activity later in the year.

In a signal that Parry may support further cuts in interest rates to spur the recovery, he said the Fed still has room to lower rates in