State of Business: Optimism Is Back

Cliches prove such sturdy soldiers that they die hard. Now that "high-level stagnation," used to describe the recent listlessness of the U.S. economy, no longer fits, a Manhattan economist has diagnosed "high-level stagnation with an upward trend." Things are better than that. After months of being prodded, decried and even despaired of, the U.S. economy seems once more to be on the go. "The economy has finally formed a base from which it can move upwards with confidence," says Wells Fargo Bank President Ransom Cook, whose own bank less than a month ago expressed no such confidence.

Hard & Solid....

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