Recent economic reports serve to refute the notion that the US is in a recession,according to Dean Maki,PhD,Chief US Economist at investment bank Barclays Capital.We believe Q3 will be stronger than Q2.Profits were by and large flat in Q2.That's really disappointed people.
We think people have to trim their expectations.They have to hire,and that cuts into profit growth.That's where we are right now.It could be a rocky road,in our view,within Europe.Ultimately,we do think they will put a handle on things.
Our view is that the Federal Reserve will not launch QE3 in September.With a significant rise in gas prices, spending will be crimped in coming months.Housing is one of the pieces we find we're most sure of in terms of a recovery.We think it will continue.
Dr.Maki has a PhD in economics from Stanford University.The Minnesota native worked as a Senior Economist at the Federal Reserve with former Chairman Alan Greenspan.
QE3 would be a further effort by the Federal Reserve to stimulate the US economy.
Barclays(BCS)
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