Fed official says credit markets will take time to heal

04/15/2008 | Wall Street Journal, The

At a New York University conference, Federal Reserve Governor Kevin Warsh said that while credit markets are exhibiting "encouraging, early signs of repair," a full recovery will take a while. He also said that the continuing credit crisis poses significant risks to the economy. "Credit is threatening to displace liquidity as the primary antagonist," Warsh said.

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