TIME Board of Economists: The Good Bad News

Business is absolutely slowing, says TIME's board--but only to a prosperous pace that can hold for perhaps the next decade

Slowdown? Did anyone say slowdown? There have been plenty of worries about the effects of interest-rate hikes on the U.S. economy in the past few months, but when he takes the oath of office next Jan. 20, the next President, whether it's Al Gore or George W. Bush, will inherit the sunniest economic prospects to greet any new Chief Executive since Lyndon Johnson in 1963. Yes, it looks like the output of goods and services will be increasing more slowly. But the growth rate will slip only from one that clearly was too fast to last to a pace that can...

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