As Good It Gets?
It may just be that the economy may continue on its current bumpy path for several years to come. It would appear that Janet Yellen will become the next Federal Reserve chairwoman. In all likelihood, this would signal no new change in policy from that of the outgoing chairman Ben Bernanke. The recovery, which began over four years ago, has been tepid compared to previous recoveries. It may just be that because of the slow pace of growth, the recovery may last longer than in past economic cycles. Inflation remains quite low and the unemployment rate is still quite high. The current economic numbers point to an economy slowly on the mend. We see no reason for the Federal Reserve to exit its stimulus efforts in the near term.