BoC Governor Carney Says US Never to Fully Recover

In an interview with a Canadian newscaster, Bank of Canada Governor Mark Carney said it will take several years for the U.S. economy to recover and even then, it is unlikely the American economy can ever return to its pre-recession level.

“It’s going to take a number of years before they get back to the U.S. that we used to know — in fact, they are not, in our opinion, ultimately going to get back to the U.S. that we used to know”.

“It’s going to take multiple visits, multiple initiatives. Not, obviously, from the public sector alone, but clearly a focus from the private sector,” Carney said. “That is absolutely essential for developing our future and it’s a key element of our medium-term growth.”

Source: The National Post

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