Did You Hear the One...?

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For those who think I don't have a sense of humor: did you hear the one about the economic recovery...?

"Fed’s Pianalto Sees ‘Virtuous Cycle of Growth’ in Economy" (Bloomberg)

Federal Reserve Bank of Cleveland President Sandra Pianalto said today she sees the U.S. economy continuing to expand at a ‘moderate pace.”

“I am seeing clearer signs of a virtuous cycle of growth,” Pianalto said in a speech in Akron, Ohio. “Rising incomes and rising profits are supporting growth in retail sales and business demand, which in turn fuels more growth in incomes and profits.”

“I expect the economy to expand at a moderate pace, slightly above the average growth rate of about 3 percent a year,” Pianalto said at the University of Akron Economic Summit.

"Fed's Fisher: U.S. Recovery Gathering Momentum" (Reuters)

The U.S. economic recovery is gathering momentum, Dallas Federal Reserve Bank President Richard Fisher said on Tuesday, adding that he personally was extremely vigilant on inflation pressures.

"Buffett Says U.S. Economy Improves by the Month, Can Withstand Japan Quake" (Bloomberg)

Warren Buffett, whose Berkshire Hathaway Inc. (BRK/A) posted its biggest profit since 2007 last year, said the U.S. economy is “getting better month by month,” aided by government stimulus and the strength of capitalism.

“The most important factor is the really underlying resilience of capitalism,” Buffett said today at a press conference in Bangalore. There are more than 300 million Americans “thinking about how to do something better tomorrow than they’ve done today.”

Ha-ha?

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