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Majority of Economists Still See Deflation Gloom

Two and a half years after the official end of the recession, in June 2009, this recovery looks like none before it, Bloomberg Markets magazine reports in its January issue.

Daniel Tarullo, a member of the Federal Reserve Board of Governors, describes the economy as “slogging through the mud.” Arun Raha, chief economist for the state of Washington, chooses a different metaphor. “A return to normalcy seems like a mirage in the desert,” he wrote in a report in October. “The closer we get to it, the further it moves away.”

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