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Economy in a Low Mood Debate Splits White House and Economists
The term low mood sparks a split among public figures and economists over whether the economy is in a Great Depression like downturn. Meany Williams Samuelson Okun warn of a mood sliding to recession, while Ford officials reject the label and forecast a bottoming out midyear. Unemployment around 8.2 percent in January frames the discussion, with some arguing persistent stabilization tools shield the 1930s-era shocks from repeating. In Venice, a young woman robber fails at a bank, dismissed by a teller as a new accounts window.
MENTIONED IN THIS ARTICLE
Paul A. Samuelson
Arthur M. Okun
House Budget Committee
Brock Adams
D-Wash
Ford Administration
Ron Nessen
White House
National Bureau of Economic Research, Inc
National Bureau
Samuelson
Okun
Venice
Calif
UPI
Security Pacific Bank