Olson - US economy at or near end of down phase

US - Federal Reserve Governor Mark Olson said on Tuesday recent reports over the past few months show the downturn that hit the U.S. economy last year has likely bottomed out.

"We have recently experienced a decade of economic prosperity followed by more than a year of weak economic conditions. For the past few months we have seen clear indication that economic conditions are improving and we are either at or near the end of the down cycle," said Olson in prepared remarks to be delivered here

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