158. Strong Growth Could Come With High Unemployment – Forbes.com
July 16, 2009 § Leave a comment
And then what?
A growing number of private forecasters believe that the recovery has already begun. On Tuesday, Michael Hartnett, chief global equity strategist at Merrill Lynch, boldly declared that the recession is over. Private economists are hardly united here; David Rosenberg, Merrill’s star economist until May, now with Gluskin Sheff, wrote on Wednesday, “What is fascinating is to hear forecasts of the recession ending when so far, three of the four major ingredients–real sales, industrial production and employment–have yet to hit bottom.”