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March 10 (Bloomberg) -- The political consensus may be that President Barack Obama’s handling of the economy has been weak. The judgment of money in all its forms has been overwhelmingly positive, and that may be the more lasting appraisal.
One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor’s 500 Index has risen more than 68 percent, and it’s up more than 41 percent since Obama took office. Credit spreads have narrowed. Commodity prices have surged. Housing prices have stabilized.
“We’ve had a phenomenal run in asset classes across the board,” said Dan Greenhaus, chief economic strategist for Miller Tabak & Co. in New York. “If he was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the president.”
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The U.S. may add as many as 300,000 jobs in March, the most in four years, David Greenlaw, chief fixed-income economist at Morgan Stanley in New York, said in a Bloomberg Radio interview.
Zandi said the economic rebound is largely a result of the policies of the White House and Federal Reserve. He cited the bank bailout, the Fed’s low-interest-rate policy and support for credit markets, and the Obama administration’s stimulus plan, bank stress tests and backing of Fannie Mae and Freddie Mac.
“When you take it all together, the response was massive and unprecedented and ultimately successful,” Zandi said.
Phil Swagel, who was assistant Treasury secretary for economic policy in George W. Bush’s administration, considers himself a critic of Obama, though he said the White House policies were crucial.
“They could have done a better job, but their economic policies, including the stimulus, have helped move the economy in the right direction,” said Swagel, now an economics professor at Georgetown University’s McDonough School of Business."
http://www.bloomberg.com/apps/news?pid=20601109&sid=aeSenIUvpSK0&piece of work=10
tried to find an opposing view
Economists Trim Forecasts for 2011 US Growth
U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is expected to grow by 3.0% in 2011, which is 0.1 percentage point lower than estimates made a month ago.
http://www.foxbusiness.com/story/markets/economy/economists-trim-forecasts--growth/
One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor’s 500 Index has risen more than 68 percent, and it’s up more than 41 percent since Obama took office. Credit spreads have narrowed. Commodity prices have surged. Housing prices have stabilized.
“We’ve had a phenomenal run in asset classes across the board,” said Dan Greenhaus, chief economic strategist for Miller Tabak & Co. in New York. “If he was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the president.”
...
The U.S. may add as many as 300,000 jobs in March, the most in four years, David Greenlaw, chief fixed-income economist at Morgan Stanley in New York, said in a Bloomberg Radio interview.
Zandi said the economic rebound is largely a result of the policies of the White House and Federal Reserve. He cited the bank bailout, the Fed’s low-interest-rate policy and support for credit markets, and the Obama administration’s stimulus plan, bank stress tests and backing of Fannie Mae and Freddie Mac.
“When you take it all together, the response was massive and unprecedented and ultimately successful,” Zandi said.
Phil Swagel, who was assistant Treasury secretary for economic policy in George W. Bush’s administration, considers himself a critic of Obama, though he said the White House policies were crucial.
“They could have done a better job, but their economic policies, including the stimulus, have helped move the economy in the right direction,” said Swagel, now an economics professor at Georgetown University’s McDonough School of Business."
http://www.bloomberg.com/apps/news?pid=20601109&sid=aeSenIUvpSK0&piece of work=10
tried to find an opposing view
Economists Trim Forecasts for 2011 US Growth
U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.
Economists surveyed earlier this month in the Blue Chip Economic Indicators newsletter said the economy is expected to grow by 3.0% in 2011, which is 0.1 percentage point lower than estimates made a month ago.
http://www.foxbusiness.com/story/markets/economy/economists-trim-forecasts--growth/
