# In an op-ed, Prof. Michael Spence shares his predictions for economic growth in 2014

1 Faculty News January 21, 2014 ![Huffington Post logo](/sites/default/files/styles/246w/public/assets/images/huffpost192x144.jpg?itok=sF2Y0c9v)>

Excerpt from [The Huffington Post](http://www.huffingtonpost.com/michael-spence/a-global-growth-map-for-2_b_4603374.html?utm_hp_ref=world&ir=WorldPost) -- "The US is in what might be termed a partial recovery: growth at 1.5 to 2%, well below potential but a lot better than zero. This is being driven largely by the private sector, a flexible and dynamic economy and one that is shifting its resources at the margin toward the tradable sector where demand is not (or is less of) a constraining factor. Fiscal drag is significant and uncertain because the resolution of an ongoing sequence of budget standoffs is not known."

[Read more](http://www.huffingtonpost.com/michael-spence/a-global-growth-map-for-2_b_4603374.html?utm_hp_ref=world&ir=WorldPost)