Busted: Bankers and The Global Economy

September 10, 2007

Fed Announces Risks and Outlook for 2007

Filed under: banking, federal reserve, government, money — Tags: , , , , , , , — digitaleconomy @ 10:50 am

“As everyone in this room knows, financial markets have been front and center in recent discussions about the economy. The FOMC noted on August 17 that financial market conditions deteriorated last month and that the associated tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward. Indeed, at this point, housing demand seems likely to be crimped further by a marked reduction in the availability of mortgages, and consumer and business spending also could be damped as a consequence of the recent financial turmoil. In light of these events, we will need to make the best possible real-time judgments about the extent to which the recent developments in financial markets are likely to affect economic activity in the period ahead.”
~ Fed Governor Fredrich Mishkin, September 10, 2007

Outlook and Risks for the U.S. Economy

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