The moderate recovery will continue this year, but a housing plan put forth by the Federal Reserve in a white paper this week could help boost the economy, Fed governor Elizabeth Duke said Friday.
Duke said the unemployment rate will drop, though its downward path may be "choppy."
"In this environment, I believe that the current stance of monetary policy is appropriate," she told the Virginia Bankers Association-Virginia Chamber of Commerce, according to a prepared text of her speech released by the Fed.