Economy's 'Free-Fall' Nearly Over: Summers

By Harry Kimball,  Newser Staff
Posted Apr 9, 2009 4:14 PM CDT
Economy's 'Free-Fall' Nearly Over: Summers
Protestors hold up a banner behind National Economic Council Director Lawrence Summers at the Economic Club of Washington.   (AP Photo)

Top Obama economic adviser Lawrence Summers said today that measures to stabilize the economy will have a discernible effect in the next few months, the Hill reports. Loosening credit and an increased flow of inventory from manufacturers means the sense of “free-fall” will dissipate, though jobless numbers will continue to rise. We can’t “hold out the prospect that unemployment will stabilize,” Summers said.

“The sense of a ball falling off a table,” Summers said, “which is what the economy felt like since the middle of last fall, I think we can be reasonably confident that that's going to end in the next few months, and that you'll no longer have that sense of free-fall.” (More President Obama stories.)

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