Fed's Fisher says U.S. economy getting "less worse"

LUBBOCK, Texas Tue Jun 2, 2009 2:56pm EDT

LUBBOCK, Texas (Reuters) - Dallas Federal Reserve Bank President Richard Fisher on Tuesday said the U.S. central bank has succeeded in pulling the economy back from the brink, and that conditions are "getting less worse" over time.

The Fed needs to unwind its new, expansive credit programs as soon as it can and make it clear it will not "monetize" the rapid expansion of U.S. debt, Fisher said in a Dallas Fed event for community leaders.

The United States will have a "very slow" recovery despite positive signs such as an increase in consumer confidence, he said.

(Reporting by Ros Krasny, Editing by Chizu Nomiyama)

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