Warsh: False Optimism on U.S. Economy

June 17, 2009 6:30am by Barry Ritholtz

Our quote of the day:

“The panic’s hasty retreat should not be confused with robust recovery. The rather indiscriminate bounce off the bottom — across virtually all assets and geographies — may be more indicative of a one-time reset, which may or may not be complete.”

-Federal Reserve Governor Kevin Warsh, remarks to the Institute of International Bankers annual meeting in New York.

Sources:
Defining Deviancy
Governor Kevin Warsh
Institute of International Bankers Annual Meeting, New York, June 16, 2009
http://federalreserve.gov/newsevents/speech/warsh20090616a.htm

Fed’s Warsh warns of false optimism on U.S. economy
Ros Krasny
Reuters Jun 16, 2009 5:41pm EDT
http://www.reuters.com/article/smallBusinessNews/idUSTRE55F5FR20090616

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