Fed Researchers Predict Speedy Economic Recovery

Fed Researchers Predict Speedy Economic Recovery 
The U.S. economy is likely to recover more quickly after this recession than it did after the previous two recessions, predicts researchers for the Federal Reserve Bank of San Francisco.

"I see no signs of a double dip," said John C. Williams, director of research at the San Francisco Fed. "The economy continues to gain momentum, and consumer spending and business investment continue to improve."

The prediction goes counter to what many analysts believe, but Williams pointed to surveys that show home, car, and retail sales are up. "It's kind of a natural part of the process — you cut back for a couple of years, and then you need to replace things eventually," Williams said.

Source: Los Angeles Times, Alana Semuels (05/18/2010)