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The U.S. economy will not grow more than 2% in 2011, says Nobel Prize winning economist Robert Mundell. Mundell’s comments are in stark contrast to economists at banks like Goldman Sachs and Societe Generale that now think the U.S. economy is going to grow faster in 2011.
Mundell partially blames QE2 for the lower projection, saying it had the undesired effect of strengthening the dollar which is what “really broke the back of the economy.”
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