Wednesday, July 18, 2012

Volcker Says Fed Has `No Magic Bullets'

“I don’t believe we’re headed back into a recession, but we’ve been for some years now stuck in a kind of slow-growth pattern”

“We've inherited a very difficult situation, not unique to the United States”

Ben Bernanke doesn’t have a “magic bullet to solve these real problems”

“There’s been too much borrowing, too much indebtedness, too much leverage in our economy and the world economy. Sometimes it takes years to work itself out”

US Is Stuck in Slow Growth Pattern

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