Feldstein Says U.S. Economy in ‘Holding Pattern’

Harvard University economics professor Martin Feldstein said more bond purchases by the Federal Reserve probably wouldn’t do much to spur the slowly growing U.S. economy.

“At this point we’re really in a kind of holding pattern for the economy,” said Feldstein, a member of the National Bureau of Economic Research committee that dates the beginning and end of recessions, in an interview today on Bloomberg Television’s “InBusiness with Margaret Brennan.” He sees a 30 percent chance the U.S. will relapse into a recession, he said.