Economists see 2008 recession as inevitable
Many analysts gathered at the American Economic Association’s two-day annual meeting spoke of a recession as almost a given but differed over how severe it will be.
University of Chicago professor of finance and former chief economist at the International Monetary Fund, Raghuram Rajan, said questions in the media over whether the U.S. economy will fall into recession are really only about semantics.
“We are going to have very low growth in the first two quarters of the year. Whether it is negative or zero, it is going to feel like the same thing,” Rajan said.
[T]he economy won’t likely get back on track until 2010 and will require more capital from overseas.
Source: Marketwatch
