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When Will We Recover From This 'Recovery'?

10:53 AM, Sep 19, 2013 • By GEOFFREY NORMAN
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Yesterday, the Fed decided that the economy was not yet sufficiently robust for it to "taper." Wall Street celebrated.

Today, the consumer put in his two cents, which is about what he thinks this "recovery" is worth. As Ben Schenkel at Bloomberg writes:

Consumers views of the U.S. economic outlook deteriorated in September to the weakest level in a year as higher borrowing rates started to chip away at progress in the housing market.

And it isn't just consumers:

… as households became more pessimistic this month about the strength of the recovery, corporate officers this quarter also grew less upbeat. A survey yesterday showed fewer chief executive officers project a pickup in sales and capital spending in the next six months as the budget debate in Washington puts hiring plans on hold.

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