Fed's Yellen: recovery will not be V-shaped
The recession will end in the second half of this year, but it will not be a V-shaped recovery, said Janet Yellen, the president of the San Francisco Federal Reserve.
Yellen said that the recovery would be far less robust than in 1981 and 1982. She said that it took a long time to recover from downturns caused by financial crises. She also said that the global nature of the recession was likely to hold back the pace of United States's recovery.
She made the comments on 5 May.
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