10/06/09 Stockholm, Sweden – Today New York Fed President Bill Dudley has expressed his growing concern about the recovery, which he expects to be “moderate by historical standards” and “disappointing.”
The New York Fed President spoke at Fordham University and focused on a couple areas where he sees a negative outlook. Commercial real estate which he views as “under particular pressure,” household net worth, the poor fiscal outlook, the on-going but weakening stimulus, and still-dismal bank balance sheets all contributed to his skepticism.
Business Insider has more on Dudley’s lack of faith in recovery.
Rocky Vega
Rocky Vega is publisher of The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
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