Federal Reserve governor Elizabeth Duke on Tuesday bemoaned the lingering pain of the financial crisis and resulting recession.
Duke did not talk about monetary policy, but her comments about high unemployment, lost wealth, and lower incomes seemed to point to a continued concern about the sluggish nature of a recovery, which the Fed has been trying to nurture with near-zero short-term interest rates and asset purchases to hold down long-term rates.
Duke, in remarks prepared for a conference at the Federal Reserve Bank of Boston, prefaced her call for greater financial education by citing a litany of adverse developments that show its necessity.
