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Keeping Expectations Real

The U.S. economic recovery endures, but attitudes about the economy need adjusting, three economists say.

By staff Writer | Updated on August 02, 2010

Optimism about the U.S. economic outlook took a tumble recently amid reports showing employment gains may be petering out, the housing sector is still weak, and manufacturing has cooled. Joel Naroff of Naroff Economic Advisors dismisses the speculation about a double-dip recession and says the economy is working its way toward a new, more subdued, rate of growth. Craig Thomas of PNC Financial Services Group argues that companies’ need to invest in capital expenditures will provide the basis for a healthy recovery. Ward McCarthy of Jefferies & Co. notes that when the Federal Reserve starts to tighten policy, the unwinding of the massive securities purchases it made during the financial crisis is likely to steepen the yield curve.

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