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Dave Sullivan here for the MMLA membership committee with
Paul Traub of the federal reserve bank of Chicago Detroit branch
Paul thanks for having us out today it was really nice to get out to the fed have our board meeting here have a nice lunch over there
what were the main points that you brought up during her speech today
well I tried to talk to the audience about the recovery where we are in this cycle
how along this recover has
taken to take shape
we are a number of quarters after the recovery started
in the middle of two thousand and nine
total GDP is still 2 and 1/2 percent below its previous peak
on a normal recovery you would be sixteen seventeen percent
right so were the lag is taking a lot longer to get back to were we were
uh... where some of the things that
do you think that could come into play
arken trevor hunger increased may have some projections and three percent per
site per cent troopers
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so i i really like the fact that you can point out that uh...
you know the replacement cost is still significantly higher than combine
overweight apple spring into action equilibrium at some point but that is
the reason for home exp
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danny kaye
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landowners picturing
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okay willing and really appreciate having absolutely regret and uh... we
will see images