Fed’s Dudley airs fears over economic 'headwinds'
The president of the New York Federal Reserve, William Dudley, said on April 12 that the US economic recovery still faces "significant headwinds".
Addressing an audience at the Center for Economic Development in Syracuse, New York, Dudley cited rising gasoline prices, ongoing weakness in the housing market and the "fiscal drag at the federal, state and local levels", as headwinds faced by the US economy.
The New York Fed chief said the long-term potential growth rate of the US economy was 2.25%
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