Quick Takes

GDP report is a sign of economy stuck in neutral

The Bureau of Economic Analysis reported today that the economy grew at a 1.5 percent annualized rate in the second quarter of 2012 – meaning that it has grown at an annualized pace well under 2 percent for the first six months of the year. This is the sign of an economy stuck in neutral, as well as a sign that policymakers must act to provide more support to the economy if they want it to grow fast enough to start putting sustained downward pressure on today’s still too-high unemployment rate.

See more work by Josh Bivens