Ask anyone on the street how they view the economy, and you’re likely to hear answers riddled with uncertainty. According to Daniil Manaenkov of the University of Michigan’s Research Seminar on Quantitative Economics (RSQE), that’s not too far from where economists are in their view. “If you come away with no clear picture of the economy, that’s fine,” he told the Consensus Revenue Estimating Conference (CREC) at the beginning of this morning’s meeting. “That's how we want you to feel because that's how we've been feeling for the past several quarters.” While consumer prices continue to be high, employment rates
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