The U.S. economy remains "weak" and "fragile" and has a "significant" chance of falling back into a recession, Harvard University economics professor Martin Feldstein said in an interview with Bloomberg Radio. "I would say there's still a significant risk, maybe one chance in three, that there will be a double dip, real GDP falling, before we're in the clear," said Feldstein, member of the committee at the National Bureau of Economic Research that dates the beginning and end of recessions. The U.S. economy grew at a 1.6 percent annual rate in the second quarter, less than previously estimated, based on revised Commerce Department figures released today. A separate report showed confidence among consumers rose less than forecast in August from an eight-month low, indicating the biggest part of the economy will be slow to recover. "We see a weak economy," Feldstein said. "We see a fragile economy that is growing at a slower pace."
The U.S. economy remains "weak" and "fragile" and has a "significant" chance of falling back into a recession, Harvard University economics professor Martin Feldstein said in an interview with Bloomberg Radio.
"I would say there's still a significant risk, maybe one chance in three, that there will be a double dip, real GDP falling, before we're in the clear," said Feldstein, member of the committee at the National Bureau of Economic Research that dates the beginning and end of recessions.
The U.S. economy grew at a 1.6 percent annual rate in the second quarter, less than previously estimated, based on revised Commerce Department figures released today. A separate report showed confidence among consumers rose less than forecast in August from an eight-month low, indicating the biggest part of the economy will be slow to recover.
"We see a weak economy," Feldstein said. "We see a fragile economy that is growing at a slower pace."
Feldstein Sees `Significant Risk' of Recession Again
And in other unexpected news, the sun may rise in the east tomorrow and kittens may be cute. In the end, might makes right. Nothing has changed since the caveman.
