Fed's Dudley sees U.S. economy in weak recovery

NEW YORK Oct 5 (Reuters) - The U.S. economy will recover slowly from its worst recession in generations, so inflation will not be a problem for the foreseeable future, New York Federal Reserve President William Dudley said on Monday.

This means the Fed will be able to keep its benchmark interest rate at exceptionally low levels for an "extended period," Dudley said in prepared remarks for delivery at Fordham Law School.

"The recovery will turn out to be moderate by historical standards," he said. " (Reporting by Pedro Nicolaci da Costa; Editing by Leslie Adler)