Gus Faucher: Increased Savings Rate Good in Long Run
April 27, 2009 | Contributed by: Amy Healy
The economy is top of mind for all of us and Gus Faucher from Moody’s Economy.com helped the audience understand how we got here, where we are going and when we can expect to see some relief.
Gus predicts that the growing savings rate which in the short term is stifling consumer spending, will be a long term and positive net result for the U.S. economy.
Gus said the question everyone asks is when will this recession end. He predicts that we’ll see the economy begin to bounce back by the end of 2009, but unemployement will peak at about 10 percent a year from now.
Moody’s and YPA will make his presentation available on the YPA web site.