“Everyone agrees that the recession is over.” - Larry Summers, director of the National Economic Council
“Of course not.” - Outgoing Council of Economic Advisers Chairwoman Christina Romer, when asked if the recession was over.
The two senior White House economic advisers made their comments on the same day.
It’s getting harder and harder to read the tea leaves with regard to Barack Obama’s economic team, which in recent weeks has seen two fairly major resignations – the above-quoted Council of Economic Advisers chairwoman Romer, and budget director Pete Orszag, two very different people with different views on the economy.
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