Wall Street Sees Recession Nearing
Thursday, November 8th, 2007When asked where the U.S. economy is headed over the next year or so, John Duffy, chairman and CEO of Keefe, Bruyette & Woods, said at the summit: “In the toilet.” With the recent data and Fed moves, Wall Street firms believe the Fed will be forced to reduce interest rates on loans to banks to 3 percent, or even as low as 1 percent, over 1 year




