Paul Kasriel Growth Quotations

Sustained economic growth is dependent on profit growth. Without profits, there will be no new hiring of workers and no new capital spending.

When the fog of war is finally lifted, we may find that economic growth remains weak because monetary policy turns out to be less accommodative than the Fed thought,

I've thought there would be some moderation in consumer spending this year, but I also thought that job growth would be better at this point than it has been. It may be that consumer spending will moderate even more than what I'm forecasting.

We should get a little better growth in the second half -- but not enough. By the end of the year, maybe we will have enough to stabilize the unemployment rate, but I think we will probably see a further drift up in the unemployment rate.

You're going to see good profit growth over the next several quarters, but it's not going to be as strong as it's been of late. Still, it will be better than a poke in the eye.

In a longer-run sense, I would view it as marginally unproductive, a worsening of the trade-off between growth and inflation, ... But will we be able to detect that? I doubt it.