Sunday Telegraph: US economy is still facing 'substantial risks'

Larry Summers, chair of the National Economic Council, said there were signs that worst may be over but warned that “it is a long road and it is going to take time” after the damage inflicted on the financial system.

“There are downside contingencies that we’ve got to prepare for, issues in the global economy, in commercial real estate. We can’t know with certainty what’s going to happen next, and there certainly are real risks ahead,” he said at the Americas summit in Trinidad.

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Posted in * Economics, Politics, Economy, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--