Industrial Insight

Uncertainty about the future | July 25, 2010

Mixed Messages on the Economy

You have every right to be confused.

BY Irwin M. Stelzer

July 24, 2010 12:00 AM

“The Economy Is Back,” trumpets the upper left corner of the cover of Time magazine. “The Economy Stinks,” moans the lower right corner. More professionally, Federal Reserve Board chairman Ben Bernanke tells Congress that most of the participants on the Fed’s monetary policy committee view “uncertainty about the outlook for growth and unemployment as greater than normal.” Titans of industry are also confused. They can’t decide whether to give more weight to the good news than the bad, and so they are sitting on $2 trillion in cash that, because of low interest rates, is earning almost nothing. They can’t even seem to find acquisitions that are both strategically sensible and well-priced.

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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.







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