NY Fed's McDonough says Brazil should be fine

US - New York Federal Reserve President William McDonough said on Monday that the crisis of confidence in Brazil would likely turn out all right.

"I know Brazil very well and in any reasonable forecast and stress test, Brazil works out fine," McDonough said. "The ongoing lack of faith in Brazil is highly destructive to yourselves," he warned bankers attending an Institute of International Bankers meeting here, Reuters reported.

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