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Gary Stern, president of the Federal Reserve Bank in Minneapolis, addresses an audience Tuesday at the Oaks on Eagle Creek in Willmar. Tribune photo by Gary Miller

Minneapolis Fed boss says lessons need to be learned on economy

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WILLMAR -- The recession is likely to persist for several more months, but there are signs that recovery is "not too far off," a Federal Reserve Bank official told a Willmar audience on Tuesday.

Gary Stern, president of the Federal Reserve Bank of Minneapolis, addressed close to 200 people at the event, which was organized by the Young Professionals of the Willmar Lakes Area Chamber of Commerce.

His forecast for the economy was guardedly optimistic.

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