Fed’s Mester: Recovery is Not Sustainable Yet

President of the Federal Reserve Bank of Cleveland, Loretta Mester said on Wednesday that the US economy is recovering better than expected.

However, Mester warned that recovery is not sustainable yet and not including all sectors.

“We are still in a deep hole, regardless of the comeback we have seen.”

“We are recovering now, we see it, but it is not broad-based recovery yet and it is not what I would call a sustainable recovery. I think it is still fragile.”