National forecast: 2015 brings steady uptick — focus on pensions

Business writer John S. Kiernan included insights from the W. P. Carey School’s Nobel Laureate and economist, Edward Prescott, in a wrap up of 2015 economic predictions.

Business writer John S. Kiernan included insights from the W. P. Carey School’s Nobel Laureate and economist, Edward Prescott, in a wrap up of 2015 economic predictions. From WalletHub, December 16, 2014:

Question: How do you expect the U.S. economy to perform in 2015? Where do you anticipate GDP growth ending up?

Answer: I expect trend growth of about 2.75 percent. The U.S. economy will continue to be depressed about 11 percent relative to pre-2008 trend.

About Edward Prescott: Nobel Memorial Prize-winning Professor Edward Prescott is internationally known for his work in macroeconomics, general equilibrium, business cycles and monetary policy. He is a senior advisor to the Federal Reserve Bank of Minneapolis and has received many awards, including being named a Guggenheim Fellow, a Brookings Economic Policy Fellow and a Fellow of the American Academy of Arts and Sciences.