The U.S. economic recovery will remain slow deep into next year, held back by shoppers reluctant to spend and employers hesitant to hire, according to an Associated Press survey of leading economists.
The latest quarterly AP Economy Survey shows economists have turned gloomier in the past three months. They foresee weaker growth and higher unemployment than they did before. As a result, the economists think the Federal Reserve will keep interest rates near zero until at least next spring.
Yet despite their expectation of slower growth, a majority of the 42 economists surveyed believe the recovery remains on track, raising hopes that the economy can avoid falling back into a “double-dip” recession.
And all those things all those economists are wringing their hands about are NOT going to be improved when billions more dollars are siphoned out of the private economy by the Fed Govt in 2011. The prudent person should be praying for the best (strong Conservative victory in November) and preparing for the worst (sharp double dip about mid-2011).