Economists Agree: It’s going to get worse before it gets better.

by Erin McCune on April 10, 2008

in Economic Outlook

It's rare that economists agree with one another, but these are historic times and a lot of unusual things are happening.

The WSJ's latest economic forecast survey indicates that, by a 3-to-1 margin, economists agree that we're in a recession. They also agree that we've yet to hit bottom:


In addition to forecasting GDP, inflation, unemployment, interest rates, and housing, the economists were asked to grade Bernanke (he got a C+), assess the Fed's handling of Bear Sterns (80% approval),  when home prices will hit bottom (1st half 2009), inflation risk (moderate), and the biggest downside risk to their forecast (further deterioration of the credit markets).

More at the Wall Street Journal:

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