More Urgent Doubt About the 'Recovery'

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.