The Disappearing Recovery (Chicago Tribune): “For more than two years now, signs of a sustained economic recovery have seemed to be just around the corner, only to vanish once the corner was reached. The Federal Reserve has been doing its part to make sure money is cheap enough to fuel a recovery. The central bank has cut short-term interest rates 13 times in the last 21/2 years--most recently by another 1/4 percent on Wednesday. That put interest rates at levels not seen since the 1950s. Nonetheless, as the Fed pointed out Wednesday, the economy has “yet to exhibit sustainable growth.” Why has it been so difficult to get this economy out of first gear? More to the point, when will this fitful, uneven growth begin to feel like a recovery?”
The disappearing recovery
