November 8, 2013
Economists predict another slow year in 2014
Federal dysfunction blamed for continuing malaise.
A group of Indiana University economists predicted “tepid” growth in the state’s economy next year amid concerns about the Federal Reserve and congressional turmoil.
Professor emeritus Bill Witte called it “zombie growth,” saying the percentage of adults participating in the labor force nationally is at its lowest level since 1983.
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If Congress can overcome the current policy deadlock and the Fed can “taper” down its purchases of securities without interest rates skyrocketing, the U.S. could see 3 percent growth next year, they said.
Conover called this year’s 2 percent growth rate both “below sub-par” and “unacceptable.”
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