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Federal Reserve’s Eric Rosengren stated that ”we’re still in the depths of a recession,” but he hopes a recovery will be underway by the spring.

He said ”it will be important to think about how we structure jobs”.

Meanwhile, Fed’s Raphael Bostic said a lot of relief is still required because there are a lot of people out of work

”At the same time there has been a considerable amount of recovery,” and ”there are many sectors and communities where recovery is going to be a long way off.”

There was no market reaction.