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

Dec. 7 (Bloomberg) -- 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.

To contact the reporters on this story: Joshua Zumbrun in Baltimore at jzumbrun@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net