Federal Reserve Chairman Ben Bernanke on Wednesday said the Fed will start winding down monetary stimulus later this year if employment numbers continue to improve. Bernanke said the economy is expanding at a moderate rate, and risks to the recovery have "diminished since last fall." But experts disagree about how optimistic we should be about the economy. UCLA's June forecast says that despite improvement, the U.S. economy is not in recovery. We take stock of the national and state economies.
Is the Economy Really Recovering?
Jerry Nickelsburg, adjunct professor of economics at UCLA's Anderson School of Management and senior economist for the UCLA Anderson Forecast
Peter Coy, economics editor for Bloomberg Businessweek
Christopher Thornberg, founding partner of Beacon Economics, an independent economic research and consulting firm headquartered in Los Angeles