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 Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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