April 16, 2008 3:18PM

Mapping the Economic Future

By Alexis Glick

Yes, I’m still fired up… only this time about Martin Feldstein, president & CEO of the National Bureau of Economic Research! Recognize his name? If you don’t, become familiar with it. He is one of the smartest , most well-respected authorities on all things related to the economy. Feldstein is a professor at Harvard University and was the Chairman of the Council of Economic Advisers under President Reagan. He also happens to be on the Wall Street Journal’s Board of Contributors.

Now that I have pumped him up, why don’t I tell you why you should listen. First and foremost, look at our interview earlier this morning on The Opening Bell. He had some terrific insight into our current economic conditions and where he thinks we’re headed.

Part I

Part II

Here are a couple quotes from an op-ed piece he wrote in yesterday’s Wall Street Journal.

“The time for the Federal Reserve to stop reducing the federal funds rate, because the likely benefit is small compared to the potential damage.”

“In previous recessions, lower rates stimulated aggregate demand by including increased home building. But with the massive inventory of unsold homes - up 50% from a few years ago - a further cut in the fed funds rate would have little effect on housing construction.”

For the full article, click here.

NOTE: The National Bureau of Economic Research has not yet said whether or not we are headed into a recession. Feldstein did say that the weakness in the economy started in December and that he personally believes we ARE SLIDING INTO A RECESSION.”