Mar
26

Regional Fed Chief: S.C. Economic Recovery Will Take Longer Than U.S.

By

– The State

The head of the Federal Reserve district that includes South Carolina said the Palmetto State’s ailing economy will likely take longer to recover than the national economy, citing the dramatic slowdown in exports and manufacturing.

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said the state took a dramatic hit in the sector that makes durable goods, which the government defines as big-ticket items that last more than three years.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.charleston.net/news/2009/mar/27/s_c_recovery_may_lag_nation76635/

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    Categories : South Carolina News

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