Lakshman Achuthan of the Economic Cycle Research Institute (ECRI) spoke with CNN this morning about the role of stimulus in the economic recovery, how "recovering" is quite different from "recovered," and when jobs growth can be expected to begin.
Key Points:
Key Points:
- We would have a recovery even without government stimulus
- Growth last quarter, the first quarter of recovery, at 3.5%, is higher than the last two economic recoveries.
- Economic growth will be stronger than many suspect.
- The broad based nature of the recovery says that good GDP growth will continue at this good rate for some time beyond this "sugar high."
- There WILL be job growth due to the broad based nature of the recovery. Indicators beyond those stimulated by government spending are showing a strong recovery WITH JOBS is on the way.
Lakshman Achuthan also spoke with Anthony Mason of CBS News today in this video titled "Financial Road To Recovery"
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- more about ECRI
- April 3, 2009: Upturn in ECRI's WLI Growth Rate Says US Business Cycle Recovery Ahead
- March 28, 2008: ECRI Calls it "A Recession of Choice"
- January 05, 2008 ECRI Says Fed Has Room To Cut Rates Despite Fears of Inflation
- CNN Video http://www.businesscycle.com/news/press/1607/