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US Fed official warns 'disappointing' growth could foretell future

Warns of fundamental headwinds that may temper future gains

Nelson D Schwartz 

Sounding a sombre note even as the economic outlook in the United States brightens, the Federal Reserve's No. 2 official acknowledged on Monday that global growth had been "disappointing" and warned of fundamental headwinds that might temper future gains. The official, Stanley Fischer, who took over as vice-chairman of the Fed in June, noted that although the weak recovery might simply be fallout from the financial crisis and the recession, "it is also possible that the underperformance reflects a more structural, longer-term shift in the global economy." In a ...

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First Published: Wed, August 13 2014. 00:20 IST