Sharyn O'Halloran Quoted in Marketplace
The trade deficit was partly to blame for the hit to GDP. But there's a silver lining.
Gross domestic product shrank by 1.4% in the first quarter of the year, hindered by two major parts of the equation — inventories and net exports . . .
. . . “What you’re really seeing when you have a big, growing trade deficit is that we’re spending more on the things that we buy from abroad,” said Columbia political economist Sharyn O’Halloran . . .