Spotlight: Fed Bank Chief Concedes to Economy

Robert Parry, head of the Federal Reserve Bank of San Francisco, has been surprised and even “humbled” by the continued strength of the nation’s economy, he told the American Bar Assn. convention in San Francisco on Monday. “We’ve had growth which is stronger than I expected, unemployment rates lower than I expected and inflation better than I expected. That’s a humbling combination,” said Parry, who is considered one of the more hawkish of Fed policymakers.