August 23, 2004
Trimming the Macro Forecast
From Brad DeLong
Three new macro forecast revisions arrived in my inbox over the past week. They're all down--oil prices and the effective end of fiscal stimulus. In fact, they are all suggesting growth at or below the growth rate of potential output. This means that the labor market is unlikely to get any better over the next eighteen months or so.
This is really depressing...
Posted by Hope at August 23, 2004 10:31 PM