Recovery to begin in 2009 - Philadelphia's Plosser
President of the Philadelphia Fed Charles Plosser sees the economy starting to slowly recover in the second half of 2009.
Plosser said he expected the housing sector to finally bottom out in 2009 and the financial markets then to gradually return to some kind of normalcy. He said that he saw the economy building up more momentum in 2010.
He also warned that the Fed needed to consider how it will shrink its balance sheet when the time comes as it was likely to face pressure from various interest
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