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Bankers See Only Moderate Growth for US, Jobless Staying Above 8%

“The U.S. economy will grow this year but a soft pace and if it can overcome risks from a potential European implosion as well as hefty fiscal alterations due to hit at the end of year, according to the Economic Advisory Committee of the American Bankers Association.

The economy should grow 2.2 percent in 2012 compared with 1.6 percent in 2011, the committee finds.

The European debt crisis could flare up, while in the U.S., tax cuts are set to expire at the end of the year at the same time automatic spending cuts are set to kick in, a combination often referred to as “a fiscal cliff” that could derail recovery if not addressed today.”

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One comment

  1. Po Pimp

    Since the bankers never get anything right, let’s take our chances.

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