Bruce Steinberg Recovery Quotations

For recovery to have any real oomph, capital spending will need to rebound. So far there are no signs of that, and we don't expect a turn until the first half of next year. So in the near term, the economy will probably remain soft enough to justify at least one more Fed move.

And the signs since the fourth quarter suggest growth picking up in the first quarter more strongly than most people had anticipated. So I would say the recovery is here.

The U.S. economy is now almost certainly in recession, but a huge amount of policy stimulus should strongly boost growth by next spring or summer. A consumer rebound in the spring and a capital spending recovery by the second half of 2002 will hopefully follow.

The U.S. economy shows further signs of stabilizing, though a true recovery is still some months away. Consumers will determine the near-term outlook and signs are positive.

The economy is on the verge of recovery but the recession has not quite loosened its grip yet.