Other voices: The case for a "Super-V"

Now that the National Bureau of Economic Research has officially declared the US economy in recession, economists, investors and policy makers are focusing with great intensity on the timing and shape of the eventual recovery. Most observers appear to agree with the Federal Reserve that there will be a gradual recovery in 2002. There are only a few contrarians who still look for a V-shaped recovery beginning in early 2002, and it could be that that the market has been too quick to discard the "V" scenario. In fact, a credible case can be made for what might be called a "Super-V" recovery.