Fed’s Dudley: High Unemployment and Low Inflation Are ‘Wholly Unacceptable’

William Dudley, president of the Federal Reserve Bank of New York, told a conference of business journalists in New York that the current conditions of high unemployment and low inflation are “wholly unacceptable”. Dudley also said the U.S. economy is unlikely to slip back into recession, and called “double-dip” fears “not the issue.” – Reuters