Busted: Bankers and The Global Economy

September 6, 2007

Fed Governor Voices Economy Concerns

“I would like to reinforce remarks made last week by Chairman Bernanke on the recent turbulence in financial markets. In the United States we have seen a fairly sharp downturn in housing markets, and in recent weeks there have been growing investor concerns about mortgage credit performance, particularly with subprime mortgages. If current conditions persist in mortgage markets, the demand for homes could weaken further, with possible implications for the broader economy. And financial stress has not been limited just to mortgage markets, but has spread to other markets.”
~ Except from Fed Governor Randall Krozner at the Federal Reserve Bank of San Francisco, Conference on the Asian Financial Crisis Revisited, San Francisco, California

Krozner Speech Link (9/6/2007)


Create a free website or blog at WordPress.com.