Real economy under threat - Fed's Mishkin
Frederic Mishkin, a member of the Board of Governors at the Federal Reserve, reiterated his view, expressed earlier this month at Jackson Hole, that the subprime crisis will drive down real economic growth.
Speaking in New York on Monday, Mishkin said that economic activity in sectors aside from housing could be affected "should heightened uncertainty lead to a broader pullback in household and business spending." Mishkin added: "That scenario cannot, in my view, be ruled out, and I believe it
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