Deleveraging still far from over: Fed's Dudley
source: http://www.reuters.com/article/businessNews/idUSN0640160920090306?feedType=RSS&feedName=busi...
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NEW YORK (Reuters) - The U.S. Federal Reserve is prepared to do whatever it takes to keep markets working, but there is more pain ahead as deleveraging is still "far from complete", a top Fed official said on Friday.
"I don't want to give you the impression that all will be well soon, that seems unlikely," New York Federal Reserve Bank President William Dudley said in a speech to the Council on Foreign Relations.
"It will take time for the deleveraging process to come to an end and, as the recent employment data have underscored, the economy has considerable momentum to the downside."
"I don't want to give you the impression that all will be well soon, that seems unlikely," New York Federal Reserve Bank President William Dudley said in a speech to the Council on Foreign Relations.
"It will take time for the deleveraging process to come to an end and, as the recent employment data have underscored, the economy has considerable momentum to the downside."
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