Despite renewed GDP growth and other positive signs, the U.S. isn't out of the woods, says Wharton finance professor Franklin Allen. In fact, the country could be heading into a "double dip" scenario that tips it back into a recession. That depends on how a number of factors play out in the coming months -- or even years -- not only in the U.S., but also around the world. Global interest rate policies, property markets and public deficits will all demand attention, Allen notes in a recent interview with Knowledge@Wharton.
The following is an edited transcript of the conversation.
Knowledge@Wharton: Lots of experts seem to think that the U.S. recession ended a few months ago or sometime recently. What do you think about that?
Franklin Allen: They are probably right and it did. The question is whether we are going to have a double dip [with the U.S. going] back into recession.
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