Romer set to testify on economy, stimulus

Although economists have raised concerns about a possible double-dip recession, Romer said this recovery is unique and unusual. 

The economy is making a slower-than-expected recovery because "it is a recovery coming out of a financial crisis. It is a recovery coming out of a bubble and bust in our housing market," she said. 

"So you don't have the normal drivers of recovery, like a big boom in your construction sector because this is an unusual recovery."

Romer noted that manufacturing is adding a boost to the economy on top of a growth in exports, investment and firms buying equipment and software.

"I think a vote of confidence in the economy. It is another source of demand," she said. "It's just different than what we've often seen."

The panel is expected to meet July 14. 


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