I have a huge amount of respect for the work being done by many of my colleagues at Armstrong Atlantic State University. Some of you have gotten at least a taste of Assistant Professor of Economics Nicholas Mangee‘s work via…
Another great column from Armstrong economics professor Nicholas Mangee in the Savannah Morning News: Our economic times: Federal Reserve remains resistant on policy
Calculated Risk has a succinct QE Timeline in this post. He also puts those dates into the following graph of the S&P 500. It speaks for itself.
Today’s economic projections after the latest round of Fed meetings are, in a word, dismal. They show continued growth and continued declines in unemployment — i.e., no recession — but with a growth so slow that millions of Americans will remain un- or underemployed. Many Americans already have a tenuous hold on their standing in the middle class; millions more will fall out of it if the Fed doesn’t do more.
When the deep recession hit and tax receipts plummeted, a steady chorus grew: “If we slash government spending, the private sector will explode with economic activity.”
The logic of that assumption was always pretty meager. How would widespread layoffs of teachers, public safety personnel, and road crews become an impetus for private sector activity?