Stiglitz Says U.S. Economic Recovery Likely to Be ‘Slow’
Nobel Prize-winning economist Joseph Stiglitz said the U.S. economic recovery is “likely to be very slow.”
“Looking at it from the point of view of the U.S. workers, no one really anticipates us being back to normal before 2017, and that’s optimistic,” Stiglitz told reporters in the eastern Indian city of Kolkata today. “But we may be able to start growing before that, so there are two different dimensions.”
Stiglitz, a professor of economics at Columbia University, said the “fundamental problems” in the U.S. and Europe were “deep.”
“There will be some ups and downs, but we are not going to really have a strong recovery for several years,” Stiglitz said, adding that should have made the European Central Bank “more cautious about raising interest rates” last year.
To contact the reporter on this story: Pradipta Mukherjee in Kolkata at pmukherjee7@bloomberg.net
To contact the editor responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net
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