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San Francisco Fed chief takes stock of economy

Dean Calbreath, SAN DIEGO UNION-TRIBUNE

Tuesday, February 23, 2010

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Kelly Cunningham, economist with the National University System’s Institute for Policy Research, said the reluctance of businesses to spend and banks to loan was putting the economy into a Catch-22. “We need to see real growth to get unemployment to go down, but we’re not going to have real growth until businesses see the jobless rate go down,” Cunningham said.