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Wednesday, April 29, 2009

The Bad News Continues...

First quarter GDP down 6.1%. Green shoots are not, policymakers must plan for a prolonged downturn. If things turn out better than expected, great, but given that this downturn has been deeper and longer than anyone expected, even updated forecasts have consistently been too optimistic, we cannot let down our guard.

    Posted by on Wednesday, April 29, 2009 at 09:50 AM in Economics | Permalink  TrackBack (0)  Comments (13)

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