What’s ahead for the economy in 2011? Economists Jeremy Siegel and Robert Shiller have two different takes on that question.
The two top economists shared their views on NPR’s On Point with Tom Ashbrook, and Seigel was the more positive of the two. “I’m very optimistic about this year,” Siegel said. “The data has really become much stronger, just over the last month. … I think we’re…for the first time in a long time going to exceed expectations here in 2011.”
Siegel says he expects GDP growth of between 4% and 5% in 2011, and he expects the unemployment rate to fall below 9% by year-end, and to hit or go below 7% by the end of 2012. Shiller, however, isn’t as positive. “If nothing interferes with this growth we could see declines in unemployment, but I would say much more gradual than Jeremy suggested,” Shiller said. “I’m worried particularly about the housing market, which has started to fall – at least in our latest data.”
To listen to the full interview, click here.