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Chief Economist Bluford Putnam was interviewed by Fox News’ Sandra Smith on May 8, 2012.
The trend of oil is down; China and Brazil have slowed, Europe has slowed. Demand is not growing. The Fed has given guidance for 2014 but Putnam sees them moving in 2013 because the economy is for real and they know that. This is a real recovery – we have a 3% plus economy on our hands. Jobs have slowed down a bit, but things are going fine.
However, get used to volatility – Europe, oil, the Fed, and fiscal policy in the U.S. are a mess. At the same time, consumer spending is already back and they are spending more; confidence is up. Unemployment is going to continue to decline this year. But in Europe, Putnam predicts Greece may return to the drachma by 2014.
Read Putnam’s notes on CMEGroup.com.
Video Length: 3:35 minutes