The Cleveland Fed’s release of August Economic Trends has a series of rather telling charts:
Pink line reflects the average of the previous six recoveries; BLack line is the present data.
They’re the reason why some economists and strategists are less sanguine about the present stimulus driven recovery.
The full report, titled "Economic Trends – August 2003: The more things change …. " is available here.
Thanks to The Capital Spectator for the pointer
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