Stern sees signs business spending picking up

FEATURE - Federal Reserve Bank of Minneapolis President Gary Stern said on Thursday that business spending was starting to pick up and the U.S. economy is on track for moderate growth this year.

In an interview with Reuters, he urged patience as the recovery from last year's recession unfolds, noting that the 6.0 percent unemployment rate may still edge higher.

On the positive side, Stern noted that consumer spending, the primary driver of recovery from last year's mild recession, is likely to

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