Fed’s Dudley: Economy will be fine in medium-long run

ROCHESTER, N.Y., Oct 26 (BestGrowthStock) – It will take time for
the U.S. economy to dig itself out of its current predicament,
but it will be fine in the medium to long run, the president of
the Federal Reserve Bank of New York said on Tuesday.

“It’s important when we are going through tough times not
to get too discouraged,” William Dudley said in response to an
audience question after giving a speech at the University of
Rochester.

“In the medium to long run we are going to be fine” he
said, pointing to U.S. dominance in higher education and
media.

Dudley said it was important for other countries to move to
more flexible exchange rates.

Asked about the U.S. central bank’s view on asset prices,
Dudley said there were different views among Fed policymakers
on how the central bank’s actions will affect asset prices.

(Reporting by Kristina Cooke, Editing by Chizu Nomiyama)

Fed’s Dudley: Economy will be fine in medium-long run