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In 1929, experts said they could not understand why stocks were crashing; the economy appeared healthy. In 1987, experts are saying the same thing. ....
From the Philadelphia FedThe U.S. economy for the current quarter looks weaker now than it did three months ago, according to 36 forecasters surveyed by the Federal Reserve Bank of Philadelphia. The panel predicts real GDP will grow at an annual rate of 6.8 percent this quarter, down 0.7 percentage point from the prediction in the last survey. ....