The Economic Outlook

Jeffrey Lacker

Speech from Federal Reserve Bank of Richmond

Abstract: Thank you for inviting me to speak with you today and discuss the economic outlook. The Commonwealth of Virginia, like many other state governments across our country, faces a very challenging fiscal environment as a result of the contraction in economic activity over the last two years. You have heard the news, no doubt, that most economists have declared that the recession is over. What that means, however, is that the contraction has come to an end, not that all of our economic challenges are behind us. Indeed, this portion of the business cycle often poses the most acute fiscal problems at the state and local level due to the typical lag in incomes. Having said that, I do agree that the national economy has hit bottom and that a recovery is solidly underway, and my remarks today will be focused on the outlook for that recovery. To put the current outlook in context, I'd like to start by briefly reviewing the recent recession and how we got here. Before I begin, however, I should note that these are my own views and should not be attributed to any other person in the Federal Reserve System.

Keywords: Business; Cycles (search for similar items in EconPapers)
Date: 2009-11-17
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.richmondfed.org/press_room/speeches/je ... cker_speech_20091117 Speech (text/html)

Related works:
Working Paper: Economic Outlook (2012)
Working Paper: The Economic Outlook (2009)
Working Paper: The Economic Outlook (2009)
Working Paper: The Economic Outlook (2009)
Working Paper: The Economic Outlook (2009)
Working Paper: The Economic Outlook (2009)
Working Paper: The Economic Outlook (2008)
Working Paper: The Economic Outlook (2008)
Working Paper: Economic Outlook (2007)
Working Paper: The Economic Outlook (2007)
Working Paper: Economic Outlook (2007)
Working Paper: Economic Outlook (2006)
Working Paper: The Economic Outlook (2006)
Working Paper: The Economic Outlook (2006)
Working Paper: The Economic Outlook (2005)
Working Paper: The Economic Outlook (2005)
Working Paper: Economic Outlook (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:r00034:101637

Access Statistics for this paper

More papers in Speech from Federal Reserve Bank of Richmond Contact information at EDIRC.
Bibliographic data for series maintained by Matt Myers ().