Thursday, August 17, 2006

Another reason Bernanke has a hard job 

If you can read anything into the lates leading indicators report you've earned your money today. I am getting no hints from there whether a recession is coming or not. It's not likely to be this current quarter, based on what we know right now. Indeed, I agree with Brad DeLong and Menzie Chinn -- there's not much of a chance of calling this recession before it happens.