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Brookings: The U.S. Financial and Economic Crisis: Where Does It Stand and Where Do We Go From Here?

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The U.S. Financial and Economic Crisis: Where Does It Stand and Where Do We Go From Here? Martin Neil Baily, Senior Fellow, Economic Studies, Douglas J. Elliott, Fellow, Economic Studies, Brookings Initiative on Business and Public Policy, June 2009

  • “This paper will review where we stand with the economy and the financial crisis, the likeliest path forward, and the risks to that relatively optimistic view. The purpose of this paper is not to make specific predictions about the economy. We do not know and we do
    not think anyone knows as yet how this recession will play out. The predictions of most professional forecasters are that the US economy will end its decline before the end of this year and grow at least modestly in 2010. But there is still a lot of uncertainty about
    when the recession will end, when growth will recover or whether the financial sector is firmly on the road to recovery.”

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