Some in Fed think 5 or 6 years before normal economy… or longer

From CNNMoney.com.

The Federal Reserve slashed its outlook for the U.S. economy for this year and 2011 and projected that it could take several years for the economy to return to health.

According to minutes from the Fed’s November 3 meeting released Tuesday, more than half of the central bank’s policymakers thought it would take about five or six years for unemployment, growth and inflation to return to more normal levels. Other Fed members warned the full recovery could take even longer than that.