The economics profession has little agreement on what should be done next. The WSJ discussed differences recently expressed:
The all-too-frequent ability of economists to look at the same set of data and reach diametrically opposed interpretations and policy prescriptions was on full display Sunday.
As part of a panel discussion at the National Association for Business Economics gathering in Denver, Stanford University professor and George W. Bush-era Treasury official John Taylor locked horns with Macroeconomic Advisers economist and former Federal Reserve governor Larry Meyer. They offered opposing views on just about every major issue facing the economy.
The issues and differing viewpoints are discussed in Two Top Economists Spar on Outlook for Economy, Policy.
