NY Fed’s Dudley explains weakness of economic recovery
William Dudley, the president of the New York Federal Reserve, on Tuesday said the economic recovery in the United States had been slower than previous due to the weakness in consumer spending and housing.
Speaking at a press briefing in New York, Dudley said: "The slow recovery of consumer spending and housing in the face of very substantial monetary and fiscal stimulus reflects the painful unwinding of the dynamics at work during the expansion that preceded it."
Dudley said the housing sector
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