Fed's Tarullo says worried about second-quarter recovery

Economic data so far in the second quarter fail to show the kind of U.S. recovery that was evident in the data last year in the same period, a top Federal Reserve official said on Thursday. Fed Governor Daniel Tarullo said that transitory factors contributed to the negative U.S. gross domestic product reading for the first quarter, but that he is not convinced the economy has shaken out its struggles just yet. Tarullo, speaking on a panel at the Institute of International Finance event here, sai