White House's Romer Sees No Sign of a Double-Dip Recession
The U.S. economy doesn’t show signs that it will relapse into another recession, said Christina Romer, President Barack Obama’s chief economist.
“We certainly do not see any sign of that in the data,” said Romer, who chairs the White House’s Council of Economic Advisers, in an interview on Bloomberg Television today. “We’re anticipating moderate growth.”
The U.S. economy lost 125,000 workers in June while adding 83,000 private-sector jobs, according to Labor Department data released earlier today. Private employers hired fewer workers than forecast, and overall payrolls fell because of a drop in federal census workers.
“It’s not good enough but it is very much in the direction of slow steady expansion,” Romer said. She said Obama would keep “plugging away” to encourage Congress to approve extended unemployment benefits and aid for small business and local governments.
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