Fed's Dudley: Sandy Not Expected to Derail Expansion

Thursday, 29 Nov 2012 | 9:05 AM ET

CNBC's Steve Liesman reports NY Fed President Bill Dudley said that Hurricane Sandy caused 70,000 storm-related job losses in New York and New Jersey, and that the damage was much worse than expected. He also said he expects reconstruction to boost the region's economy in the next few months.