Word: forecasters
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...contrary, Fyodorov responded, "this is a turn back." He forecast the government of Chernomyrdin and Gerashchenko would push inflation, now running at about 20% a month, up to 30% by April. "A collapse is inevitable," he said. The daily Izvestia agreed: "The government of reformers has ceased to exist." Two top Western economists, Jeffrey Sachs of Harvard University and Anders Aslund of Sweden, resigned as advisers to the government...
...which the reluctant recovery finally kicks into gear. When TIME gathered six leading economists to assess the 1994 outlook, there was not a Cassandra among them: they foresaw the strongest U.S. growth since the late 1980s combined with continued low inflation and gradually falling unemployment. "I describe my forecast as 'the best of all possible worlds,' " said a buoyant Edward Yardeni, chief economist for the investment firm C.J. Lawrence...
CREDIT: TIME'S FORECAST...
...upshot: 1993 seems headed for a gangbusters finish. Many revised forecasts for fourth-quarter growth cluster around 4%, up from 2.8% in the third quarter and only 1.9% in the spring. That pace would be just too fast to keep up, so output is likely to drop back in early 1994 -- but hardly as much as it did early this year. The consensus forecast is 3% in 1994, but a few brave souls are beginning to mutter 3.5%. Which would be no boom, but maybe something better: a pace that could be sustained for a long time, keeping incomes...
...after Saturday's meet against Boston College, he admitted that the scorecard hadn't looked too good. But despite Haggerty's pessimistic forecast, Harvard dispatched BC soundly at the Indoor Track and Tennis Center...