Fed's McDonough praises Brazil's new government

Brazil's new economic plan received support from William McDonough on Tuesday at a Latin American forum. New York Fed chief also praised Brazil's central bank head Henrique Meirelles.

Source: Dow Jones

Federal Reserve Bank of New York President William McDonough commended Brazil's President Luiz Inacio Lula de Silva on Tuesday, saying that the new leader's austere fiscal policies and new economic team had put the regional powerhouse on the right path.

Speaking to a Latin American forum at Columb