Achuthan Says U.S. Economic Recovery Quickens as Spending Rises
The U.S. economic recovery is gathering strength, said Lakshman Achuthan, co-founder and chief operations officer at the Economic Cycle Research Institute in New York.
“You had a pretty good holiday season,” Achuthan said today in an interview on Bloomberg Television’s “InBusiness” with Margaret Brennan. “That, in our view, wasn’t a flash in the pan.”
Much of the unemployment plaguing the economy is “structural” in nature, and more importantly, for those who have jobs “the fear of getting fired has been receding steadily,” Achuthan said.
The Federal Reserve “has been behind the curve,” he said. “The fragility isn’t there. We’re just not that sick.”
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