Waking Up From a Slump

Federal Reserve

After taking a snooze during the winter, the U.S. economy now appears ready to shake off its lethargy and get moving again. That was the optimistic forecast of TIME's Board of Economists, which met last week in Washington. The members see the U.S. economy growing at a solid 3% annual rate for the rest of the year.

For the past few months, American business has been close to comatose, and fears of recession have been increasing. The Commerce Department reported last week that the gross national product, after adjustment for inflation, grew at an annual rate of only .7% during the...

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