Word: economisters
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...According to Reuters, there are over 8,300 FDIC-insured banks in America. Last August, dour economist Nouriel Roubini told Barron's that 1,400 banks in the U.S. would eventually fail. That was long before almost anyone had a sense of how tremendously damaging the recession would...
Explaining the stock market's behavior is always something of a mug's game, but there was a consensus that the main problem seemed to be that Geithner was just too vague. "Unfortunately, he led the market to believe there would be more details," says Kurt Karl, U.S. economist for the insurance firm Swiss Re. "You can't make the equity market happy every day, I guess...
Nobel Prize-winning economist and acclaimed New York Times columnist Paul R. Krugman presented a sobering forecast for the U.S. economy at the First Parish Church of Cambridge yesterday evening...
...Overseers Roger W. Ferguson Jr. ’73, and Penny S. Pritzker ’81, a former Overseer, were named as advisors to president Barack Obama’s Economic Recovery Advisory Board in a press conference held in Washington on Friday. Feldstein, a former Reagan administration economist, served as President of the National Bureau of Economic Research from 1977 to 2008. NBER studies the U.S. economy and is the well-respected authority on markers of recessions. Ferguson was the vice-chairman of the Federal Reserve Board from 1999 to 2006 and is currently serving in his final...
Harry Holzer, an economist at Georgetown University and the Urban Institute, also sees troubling news in the fact that the fourth quarter's measure of gross domestic product (GDP), or the value of all the goods and services the economy churns out, wasn't nearly as bad as economists had thought it would be: down an annualized 3.8%, compared with a predicted drop of 5.4%, according to a Reuters poll. Companies are still producing, Holzer explains, but since no one is buying, inventories are piling up. With a backlog of goods, firms will need fewer workers to keep making more...