Nobel Economist Sees Slower Growth in 2011

Washington, DC, Dec. 28, 2010 -- A Nobel winning economist said U.S. economic growth probably won't be greater than 2% in 2011, which won't lower unemployment, according to Bloomberg News.

“You had this financial shock to the economy which devastated confidence, and there is nothing around the corner that looks like it’s going to be a strong push for the economy,” economist Robert Mundell told Bloomberg.

A major problem, Mundell said, is the Fed’s unconventional monetary policy actions had strengthened the dollar.