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Monday, April 07, 2008

NBER's Feldstein: U.S in Recession, Will Probably Linger

by Calculated Risk on 4/07/2008 11:42:00 AM

From Reuters: NBER's Feldstein says U.S. sliding into recession

"I think that December/January was the peak and that we have been sliding into recession ever since then," [Martin] Feldstein, the president of the National Bureau of Economic Research, said on CNBC television.
Feldstein also said he thinks the recession will "linger" and that it might last twice as long as the previous two recessions (both lasted 8 months). He also thinks Q1 GDP might be misleading - his view is the economy is in recession even if the preliminary GDP report shows some positive real growth.