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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (45962)	1/8/2002 1:35:31 PM
From: Sully-	Respond to of 65232

Richmond Fed's Broaddus sees gradual US recovery RICHMOND, Jan 8 (Reuters) - Federal Reserve Bank of Richmond President Alfred Broaddus said on Tuesday he expects the U.S. economy's recovery from recession to be gradual and that consensus forecasts for a quick rebound may be a bit too upbeat. ``I think the consensus projection or something close to it is the most probable outcome,'' Broaddus, who is not a voting member of the policy setting Federal Open Market Committee this year, said at a panel discussion on the Virginia state budget. ``But I think there's a good chance that the economy may be at least a little softer than the consensus over the next year or so,'' he said. ``In either case, we'd see a more gradual recovery from the recession than in most other post-war business cycles.''