Daniel Gross says in his cover article forget about the negative economic indicators, the current recovery is “pretty remarkable.” After all, the stock market is up, the government said job creation was positive in March, productivity is high and GDP is supposedly roaring ahead.
However, the National Bureau of Economic Research (NBER) met on April 8th and concluded that determining the latest recession’s “trough date on the basis of current data would be premature,” reports John Williams. The unemployment rate is anywhere between 10% and 22%.
Meanwhile, the Fed continues to be holding interest rates next to zero for an “extended period.”
Magazine covers have often signaled market and economic turning points.
