The Daily Interview: OppenheimerFunds' Len Darling Sees a Recovery Next Year
The economy could return to positive growth by the second quarter of 2002 and reach 3%
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Following a press conference on Tuesday, Darling told Daily Interview he expects a V-shaped recovery, with the economy on the ascent by the second half of next year. He also said economic conditions at a conflict's outset and how inflation develops are the main factors that determine how the market will react.
TSC: Len, you mentioned that you expect a V-shaped recovery at this point. Why, and is it possible at all to say when you expect the ascent?
Darling: The rationale for expecting a V-shaped recovery is threefold. One, monetary policy: The latest from the
If the scenario plays out as we would expect, we will probably see recessionary numbers of modest proportion in the third and fourth quarters of this year. I believe the first quarter of next year will be problematic, but by second quarter
TSC: You said that prior to this event you didn't think the Fed had been aggressive enough in its previous seven interest-rate cuts so far this year, but that you do expect the Fed to be more aggressive now. How low do you expect the
Darling: I think it
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