The sluggish recovery has slowed and will not be enough to drive the unemployment rate below 8% until 2012, Federal Reserve Bank of Chicago president Charles Evans said Tuesday.

The 1.7% gross domestic product growth rate in the second quarter was less than half the rate of the first quarter.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.