"A top Federal Reserve official said on Tuesday that European debt woes pose a risk to the US economic recovery, but expressed confidence the danger of contagion was small. 'It's hard to see a banking crisis,' St. Louis Federal Reserve Bank President James Bullard told Reuters Insider in an interview. 'It might be expensive, there might be other ramifications, but it's hard to see a global flare-up,' he said." Read more. "US exposed to Europe debt woes: Fed official" Moneycontrol.com News Center, May 26, 2010. Image by Salvatore Vuono / FreeDigitalPhotos.net.