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==Economists==

==Economists==

The vast majority of the world's economists and economic forecasters--whether liberal or conservative--were caught unawares by the housing bubble and the banking crisis. Nearly all misjudged the depth of the economic downturn; they were baffled by the inability of orthodox monetary policy administered by the Federal Reserve to prevent such a steep downturn. They could not agree on what, if anything, the government should do to halt it and return to recovery. By 2010, most economists are in general agreement with the Obama administration's Keynesian strategy. However, some say the government is not doing enough and is too cozy with the bankers, while others say that it is doing too much and warn about dangerous long-term consequences. There is no professional consensus on the details of what should be done to end the downturn, speed recovery, or prevent a recurrence.  

The vast majority of the world's economists and economic forecasters--whether liberal or conservative--were caught unawares by the housing bubble and the banking crisis. Nearly all misjudged the depth of the economic downturn; they were baffled by the inability of orthodox monetary policy administered by the Federal Reserve to prevent such a steep downturn. They could not agree on what, if anything, the government should do to halt it and return to recovery. By 2010, most economists are in general agreement with the Obama administration's Keynesian strategy. However, some say the government is not doing enough and is too cozy with the bankers, while others say that it is doing too much and warn about dangerous long-term consequences. There is no professional consensus on the details of what should be done to end the downturn, speed recovery, or prevent a recurrence.  

====Notes====

====Notes====

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