To qualify as a recession, economic activity must decline in an absolute sense; a mere slowdown in real growth is not enough. Edgar Fiedler Read Quote
At some risk of oversimplification, I suggest that the usual reason a business cycle turns into a monster is an overdose of government policy. Edgar Fiedler Read Quote
There is no formula that will guarantee success in forecasting, no magic words that will part the clouds. The real problem, as the old saw puts it, is that the future lies ahead. Edgar Fiedler Read Quote
Forecasting is a maddening occupation. It is always fascinating and exciting and rewarding. yet it is also regularly exasperating and infuriating, occasionally even deranging. Edgar Fiedler Read Quote
We’re not very good at forecasting, and we don’t know how to measure the impact of economic policy. Edgar Fiedler Read Quote
Ask five economists and you’ll get five different answers – six if one went to Harvard. Edgar Fiedler Read Quote