Outlook for US is weak, but still better than elsewhere

May 16, 2013 | 05:06 PM | Catherine Ngai

Tags  AISI, American Iron and Steel Institute, Metals Service Center Institute, Martin Feldstein, economy, China, debt, unemployment natural gas

COLORADO SPRINGS, Colo. — While the United States remains one of the strongest economies globally, lackluster growth and a large fiscal deficit may cause serious downward pressure in the near term, according to one economist.

The U.S. market has been relatively stable compared with other major economies, according to Martin Feldstein, George F. Baker professor of economics at Harvard University. But even the United States may be at risk if certain policy measures are not implemented.

"I believe the U.S. economy is in better shape than the economies in the eurozone and Asia," Feldstein said during the American Iron and Steel Institute’s 121st general meeting—cohosted by the Metals Service Center Institute—in Colorado Springs May 16. "But despite its long-term benefits, there are some major problems affecting our economic climate."....

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