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Fed’s Raskin Says Economic Recovery Has Been ‘Deeply Painful’

Federal Reserve Governor Sarah Bloom Raskin said the recession that began in 2007 especially hurt people who were vulnerable to a downturn.

“The current economic recovery has been deeply painful,” Raskin said at a Richmond Fed Baltimore Branch conference on “Strategic Data Use to Stabilize Neighborhoods” where she moderated a panel. “Many of the hardest hit were already struggling before the crisis began,” she said.

She did not discuss the outlook for the economy, monetary policy, or regulation in her remarks.

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