I’m Mary Walden, with economist MW, welcoming you to the economic perspective. Today’s program looks at the three-handed economist. Mike, President Truman was said to have jokingly asked his staff to find a one-handed economist. Mr. Truman indicated he was tired of his economic advisers saying, “on the one hand, this, but on the other hand, that.” President Truman liked straight talk. But I understand you think – metaphorically speaking – there’s a three-handed approach to economics. How so?
- In terms of the economic outlook
- One hand – economy will continue to grow in 2019, but slower, likely leading to a recession in 2020
- Already had a one-quarter recession in 2015, so in new growth period
- Tax and deregulatory cuts permanently put economy on a new path – so strong growth ahead
- President Truman would not be happy!
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.