A Recovery As Early As Spring
We’ve washed out the prewar spike in oil prices, which drove 1990’s inflation rate to a worrisome 6.1 percent. We’re finished, one hopes, with the stunning collapse in consumer confidence that choked off business at year-end. If the war is short–say, a few weeks–the economy should nurture a comforting run of lower inflation, lower interest rates, rising confidence and somewhat stronger business. Optimists think the rebound might be felt as early as spring and no later than summer....