>
NY Fed president sees hope for N.J.’s economic recovery
New Jersey’s economy has gotten a pretty bad rap in the past few months.
First, S&P downgraded its rating on the state’s bonds, citing high debt levels and an underfunded pension system. Then, Moody’s joined in, pointing to a sluggish recovery, rising costs and lack of a clear financial strategy. Fitch followed suit Wednesday, apparently unswayed by the newly-minted state budget. (Kwoh, That Star-Ledger)
