GLENDALE, Calif. - The modest U.S. economic recovery is reducing the chances for a return to recession, said Robert Parry, president of the Federal Reserve Bank of San Francisco.

Speaking to a meeting of the Glendale College Foundation, Mr. Parry projected a growth rate for 1994 of 2.5% to 3%, which he termed "respectable" and actually preferable to the higher growth rates after previous recessions.

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