The national economy picked up in the fourth quarter of 2010 despite a slowdown in the Northeast, which had been outpacing the nation, and “we believe that conditions are in place for such higher growth in 2011 and 2012,” according to Federal Reserve Bank of New York president and chief executive officer William C. Dudley.

Saying he “would not be overly discouraged” by the Northeast’s slowdown,” he noted that “soft patches are not uncommon during economic recoveries.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.