George Links Slow Recovery to ‘Unresolved Problems’ at Banks

Federal Reserve Bank of Kansas City President Esther George said the sluggish expansion in the U.S. and elsewhere following the 2008 financial crisis may reflect a failure to adequately address the banking crisis.

“The slow nature of this recovery, the limited amount of new lending after more than four years and the continuation of banking issues in some countries may suggest that the actions we took left unresolved problems,” George said in a speech in Panama City, Panama. “We must consider whether what we are doing is sustainable in the long run or whether it only increases the chance of future crises.”