Feldstein: U.S. ‘Sliding’ Into Recession

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

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