Worcester Telegram & Gazette: European factor- EU debt crisis raising concerns about local impact
Yolanda K. Kodrzycki, co-editor of MassBenchmarks and vice president of the Federal Reserve Bank of Boston, was quoted in a Worcester Telegram & Gazette article covering the connection between the European debt crisis and the Massachusetts economy.
While the Massachusetts economy continues to make a slow recovery from the recent recession, the state is vulnerable to events in Europe, the destination for about 40 percent of the state’s exports— including electronics, plastics, pharmaceuticals, medical instruments and seafood.
Kodrzycki said business leaders should be mindful of the situation in Europe, but not panic. “The entire European region is not performing well economically, and that does tend to hinder the Massachusetts economy,” she said. “I wouldn't say it's enough to derail the economy, but it's something to be watchful of.”
March 18, 2012