Lengthy recession for US, says State Street

The US economy is in for a protracted recession, despite the self-serving forecasts of economists and investment banks, said Avinash Persaud, State Street's head of global research in a Cantos.com interview. Q. The US is in the midst of a sharp contraction, which we have not seen since 1991, but there are tentative signs of a rebound. When do you think we will see signs of a recovery in the US? A. I think the markets are already sanguine about the US economy. It is important to remember that economic forecasts and economic perceptions are shaped by the investment bankers. They dominate...