Fed’s Bullard: Euro crisis won’t push the global economy back into recession

The sovereign debt crisis in Europe is not likely to push the global economy back into recession, said James Bullard, the president of the St. Louis Federal Reserve Bank, on Tuesday. Many are worried of a new round of contagion as weak European banks are large holders of European debt. “While this is certainly possible, I do not think this is a likely scenario,” Bullard said – MW