The recovery is shaping up to be stronger than expected and there is little risk the economy will slip back into a recession, according to USA TODAY’s quarterly survey of 46 leading economists.
Yet most still say the rebound will fall short of the sharp, V-shaped upturns that often follow severe slumps, and the 9.7% jobless rate will fall slowly.
As the Fed meets to assess the economy this week, seven in 10 economists say they’re more optimistic than they were three months ago.
“I think we’ve gotten to a point where it’s a self-sustaining recovery,” says Standard & Poor’s chief economist David Wyss.
Even Joe Scarborough is going on about the economy improving this morning. This kind of news will really help Democrats out this fall, especially if you tie it to the Republicans filibustering financial reform. Then you can also add the countless sound bites of Republicans saying “get rid of the stimulus” and you got a big winning campaign for the Democrats. Now we only need the powers to be to seize on all this news and inform the American people of what is happening.