Economic Recovery: Bullish or Bearish?
The Chicago Council on Global Affairs Interview
The Chicago Council on Global Affairs, South Michigan Avenue, Chicago, IL, United States
March 1, 2011
Despite upbeat forecasts from economists, the road to recovery remains paved with formidable challenges, including stubbornly high unemployment and weak demand for housing. The stabilization of the financial system contributed to economic recovery in late 2009 and early 2010, and there are signs for optimism looking forward. However, the global financial sector remains vulnerable to negative surprises and an emerging pre-crisis pattern of global imbalances threatens the sustainability of recovery internationally. Can the U.S. create jobs at a fast enough pace to temper unemployment? How will conditions in global markets impact prospects for a sustained recovery? What decisions must leaders confront in order to maintain an air of optimism?
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