Could economists possibly be wrong (again)?

Equity markets are taking a reality check after a month-long bullish run that lasted into the first days of this month , defying the ever gloomier mood of economists. In all likelihood, it will prove to have been a bear market rally driven by a closing of short positions. I think it will take several more months before a more durable improvement in investor confidence can emerge. Investor confidence will face some formidable headwinds in the coming months : even the more optimistic forecasts

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