Compiled by George McCrory
Release: Sept. 17, 2001
UI experts respond to the question: What are the short- and long-term prospects for the U.S. economy in light of last week's terrorist attacks?
Stephen Williamson, professor of economics and head of the Department of Economics, (319) 335-0831
With airlines saying they facing heavy losses after last week's attacks, they are seeking federal loan guarantees to help them continue operations. While there would be no immediate impact on the federal budget, Williamson said there could be long term impacts if the government needs to pay off these loans. Overall, the slowdown of air transportation means "a slower rate of economic activity, which is bad for the economy as a whole."
Michael Stutzer, professor of finance, (319) 335-1239
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