Hatzius: "The basic rationale for our acceleration forecast of late 2013 was twofold—(1) an end to the fiscal drag that had weighed on growth so heavily in 2013 and (2) a positive impulse from the private sector following the completion of the balance sheet adjustments specifically among US households. Both of these points remain intact."Calculated Risk
Goldman's Hatzius: Rationale for Economic Acceleration Is Intact
Bill McBride
2 comments:
McBride says, "I also remain optimistic that growth will pickup - I touched on this in February: Reasons for a 2014 Pickup in Economic Growth Intact."
But back in February, McBride's number 1 reason for seeing a strong 2014 overall was, "I expect the housing recovery to continue."
But housing has fallen off a cliff -- Alhambra Partners
"…fiscal drag…"
an oxymoron
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