Statement by Chad Stone, Chief Economist, on the July Employment Report
Publication Date: August 2008
Author(s): Chad Stone
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Household income; Financial future; Economic projections; Recession
Type: News release
Consumer spending supported by the stimulus payments that Congress enacted earlier this year has kept the economy from being even weaker than it is. But those effects won’t last, and nothing in the latest data suggests the economy is on the verge of a spontaneous rebound.