Feldstein: Fed Can't Pull US Out of 'Danger Zone' of Slow Growth

Economic growth may not top 2 percent this year and a third round of quantitative easing by the Federal Reserve would have little effect, said Martin Feldstein, a professor of economics at Harvard University. “We’re going to have a hard time reaching 2 percent this coming year,” he said. The economy is still in a “danger zone,” even as the recession risk “is less now than it was.”
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Martin Feldstein, a professor of economics at Harvard University and a member of the committee that dates recessions, said any move by Fed Chairman Ben Bernanke to conduct a third round of quantitative easing, known as QE3, is “not the solution.” The economy wouldn’t “get much help from more monetary stimulus.” (Jim Watson/AFP/Getty Images)