The recovery is proving to be powerful, but it could set off more inflation
Walter Heller, who served as chairman of President Kennedy's Council of Economic Advisers, likes to keep track of the words that his fellow economists and the press use to describe the business outlook. At last count, he had compiled a list of 60 adjectives applied to the emerging recovery. The tone of the list has been changing dramatically. Only six months ago, Heller says, economists were calling the recovery "weak, wobbly, puny, pokey, measly, muted and miserable." Now, however, the...
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