The economy will not bound back with élan but at least will provide a “normal recovery,” Vanguard founder John Bogle tells Bloomberg.

“We have had a market crash, and we may well have seen the lows for the year,” Bogle said. “It’s a normal recovery from a shocking market crash.”

The government stimulus package will, inevitably, succeed in creating “moderate growth or stability within the next year,” he added. “We’ll level off, because there are too many positive trends going on in the economy. But I don’t foresee a robust recovery.”

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