stubzee

Lazear Sees No Recession for U.S. Economy

"I would be very surprised if the NBER, looking back at this period, would date this as a recession."

This is hilarious when you consider that Martin Feldstein, who is president of the NBER, the official arbiter of recession, said over a month and a half ago that he thinks we're in a recession.

Quoting a March 14 Bloomberg article now:
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March 14 (Bloomberg) -- Harvard University economist Martin Feldstein said a six-year U.S. economic expansion has ended and the downturn could be substantially worse than past contractions.

``I believe the U.S. economy is now in recession,'' Feldstein, president of the National Bureau of Economic Research, said in a speech at the Futures Industry Association conference in Boca Raton, Florida. ``The situation is bad, it's getting worse and the risks are that the situation could be very bad.''
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Guess Ed Lazear is in for a surprise.