Thursday, April 12, 2012
Shocking! Economy Barely Keeping Up: NY Feds’ Dudley
Yes readers, we’re shocked – Casablanca-shocked! According to CNBC: Bill Dudley, the president of the New York Federal Reserve bank, indicated that he is most likely supporting additional action by the Federal Reserve to speed up the economy. In remarks at an event in Syracuse, New York on Thursday morning, Dudley argued that "recent growth rates are barely keeping up with out potential."
"The incoming data on the U.S. economy generally has been a bit more upbeat over the past few months, "Dudley said. But it is "still too soon to conclude that we are out of the woods."
Some of the growth in sales and job creation in the first three months of the year may have been due to the mild winter pulling forward hiring and economic activity, Dudley said…
Read all about it at http://www.cnbc.com/id/47029910