The U.S. economy isn’t off to a great start in 2015. It’s looking so rotten that the Federal Reserve Bank of Atlanta just cut its growth projection to zero for the first three months of the year.That’s a big drop from the 1.9% growth forecast they started with in early February.
Some of the first quarter’s slowdown is no doubt due to an especially harsh winter. Yet nearly six years into the recovery from the Great Recession, the economy’s muddled progress seems inescapable. A long-awaited breakout remains elusive, suggesting that the economy’s direction has never been quite as simple as some analysts, politicians and bar stool philosophers would have it.