Harvard's Feldstein Says U.S. Economy in a Recession

March 14 (Bloomberg) – Harvard University economist Martin Feldstein, a member of the group that dates business cycles in the U.S., said the nation has entered a recession that could be the worst since World War II.

I believe the U.S. economy is now in recession,'' Feldstein, president of the National Bureau of Economic Research, told the Futures Industry Association conference in Boca Raton, Florida. Could this become the worst recession we have seen in the postwar period? I think the answer is yes. I would emphasize the word `could

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The U.S. economy is clearly in a recession. Its not going to stop the Irish media from using the phrase ‘the fear that the U.S. might head into recession’ in the same way that the Irish media continued to use the made up words ‘soft landing’ for a year after it was clear the market is crashing.

The discourse should now switch to how severe the recession is going to be, and whether or not the U.S. is heading into a depression

The same chap …


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