William Dudley, president of the Federal Reserve Bank of New York, said that although the economic recovery is "far less robust" than the central bank wants, the recovery is unlikely to be derailed by bumps along the way. He also said the economic recovery seems to be sustainable. "We think the risk of double dip is quite low. The reason for that is quite straightforward: policy is quite stimulative. It's set on very aggressive easing setting," he said.