Word: consumerized
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How can he be so bullish? Historical data indicate that consumers step up spending in the year following a recession's trough, says Canally. However, he concedes this year's snapback won't be as big as those following the last two recessions, since consumers currently face headwinds from high...
Unemployment is the wild card in all of this, and that's where the outlook gets murky and experts' crystal balls differ. Karen Ghaffari, a managing director at Fitch Ratings, expects unemployment to peak in the second quarter at 10.4% before slowly starting to decline. "It will average 10.2% for...
The so-called underemployment rate, which includes the country's jobless as well as workers who have taken part-time jobs and those who have given up looking for work, is even higher, at about 18%, notes Davidowitz. "We're not adding jobs, we're losing jobs," he says. Davidowitz...
But Republicans are already accusing Obama of sacrificing reform on the altar of politics, and it's true that the bright-line strategy could scuttle whatever chances there might have been to build bipartisan consensus in the Senate. For example, the White House recently leaked word that it considers the...
And yet Obama's bank tax - designed not only to make taxpayers whole but also to discourage excessive risk-taking - came from Geithner. And so did most of the Administration's plans to address the too-big-to-fail problem, create an independent consumer agency for financial products and otherwise...