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The Economy in Perspective

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Summertime (and the livin’ is easy) … It’s hard to get excited about U.S. economic conditions when we are headed for vacation, in the middle of vacation, or nearing the end of vacation. Now is the time for highway construction, long lines, and pulp fiction on the beach; hardly the time for deep thoughts about record car sales, the employment cost index, or the Japanese banking system. Some might be curious, but all it takes to stifle their interest is a reminder that last summer they were worrying about the collapse of Asian financial markets, and to what avail? They’ve seen Jaws and they’re still swimming.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-08, pp. 01, 08.01.1999.

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