Feldstein: U.S. 'Sliding' Into Recession

Wednesday, May 07, 2008 | 03:30 AM

Great piece by Martin Feldstein in the FT: Misleading growth statistics give false comfort 


"Harvard University economist Martin Feldstein, a member of the committee that charts the American business cycle, said the U.S. economy is ``sliding into a recession.''

"This is a weakening economy,'' Feldstein, president of the National Bureau of Economic Research, said in a Bloomberg Television interview in New York. ``If you compare where the economy is now, with where it began at the beginning of the year, just about every indicator is down.''

The comments by Feldstein, a Republican, go farther than anyone in the Bush administration has gone in publicly characterizing the severity of the U.S. slowdown. Treasury Secretary Henry Paulson in an interview last week said the economy is ``still growing, albeit modestly.''


Misleading growth statistics give false comfort   
Martin Feldstein
FT, May 7 2008 18:54

Feldstein Says U.S. Economy `Sliding' Into Recession
Anthony Massucci and Kathleen Hays
Bloomberg, May 6 2008

Wednesday, May 07, 2008 | 03:30 AM | Permalink | Comments (9) | TrackBack (0)
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Yes It's an weakening economy and that's not news anymore.Everyone knows that, equity market has already signaled that one quarter back.The real question is what happens from here? Will the job losses pick up momentum or they remain muted.

The yield curve is steep, as steep as it was around october of 2001, trough for that business cycle.Stimulus checks will have positive impact for two quarters, then yield curve effect should take control.
-Bullish Voice

Posted by: Jagmohan Swain | May 7, 2008 4:09:21 AM

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