BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Peter Orszag Optimist

Market Movers

by Felix Salmon
Main
Subprime Lawsuits: The Lerach Connection   Extra Credit, Weekend Edition

Recent Blog Posts

Links

Feb 15 2008 12:00am EDT

Peter Orszag, Optimist

I wasn't too surprised to learn that Ben Bernanke is an optimist. But Peter Orszag too? The director of the CBO always seems pretty downbeat to me. Yet today, releasing an updated economic forecast, he says that "CBO's projections do not show the slowdown in economic growth becoming severe enough to meet the economic definition of recession". In fact, he projects 1.9% growth in real GDP this year.

Orszag sees inflation falling, too, with the CPI dropping from 4.1% in 2007 to 2.1% in 2008 and 1.9% in 2009, while the core CPI (excluding food and energy costs) will fall from 2.1% in 2007 to 1.7% in 2008, ticking up a little to 1.8% in 2009. All in all, not a bad performance for an economy where "the risk of a recession remains elevated, and economic activity will remain subdued for some period as the economy continues to work through the effects of problems in the housing and financial markets and the high price of oil".

. □

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More