Wells Fargo chief economist John Silvia says the economy is rebounding, but he is concerned about inflation.

“I think it (the recession) is winding down,” he told Moneynews’s Dan Mangru in an exclusive interview.

“I think we’re in an economic recovery. We’ll know that when we see some of the GDP numbers for next quarter.”

The second-quarter GDP figures showed “a pick-up in domestic demand across a lot of different sectors,” Silvia says. “It’s still fairly weak in some (sectors), but especially there’s some momentum going forward, and that was absolutely key.”

Click here or on the video below to view the interview.


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Source: Dan Weil, Moneynews.com, August 6, 2009.

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