Fed’s Duke: double-dip downturn not in the cards

WASHINGTON, July 12 (BestGrowthStock) – Federal Reserve Governor
Elizabeth Duke said on Monday she did not anticipate the U.S.
economy would suffer a double-dip recession.

“I don’t…it’s still a moderate recovery,” Duke said in an
interview on CNBC television when asked if a renewed downturn
was a risk.

Duke said she expected to see the flow of credit from banks
to businesses “gradually loosen up” but said the there was no
way for authorities to compel banks to lend from their excess
reserves.

(Reporting by Glenn Somerville, Editing by Chizu Nomiyama)

Fed’s Duke: double-dip downturn not in the cards