Warsh: Happy days ain’t here again

I got your green shoots right here! That’s the message from Fed Governor Kevin Warsh. He says the hasty retreat of panic should not be mistaken for a robust recovery. The “gloss of recovery” is appealing but potentially deceptive. The recent bounce in asset values may be a one-time “reset” he says. Final demand will remain weak as consumers and business recover from the recessionary trauma. Whoa. Don’t sugar-coat it, Kev. Stocks continue lower and the dollar stronger in the wake of those sobering comments. EUR/USD trades at 1.3836.

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