Fed’s Duke: recession placed burden on households
Elizabeth Duke, a governor at the Federal Reserve, on Thursday said the recent recession had led to extraordinary changes in households' wealth and behaviour.
At an event at the Richmond Federal Reserve, Richmond, Virginia, Duke said: "The initial shocks to housing and to financial assets wiped out most of the wealth gains realised since the aftermath of the tech crash in 2001. There has been some recovery in wealth since the trough, but since early 2010 it has remained fairly flat."
Duke said
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