Reviewing the last quarter of economic activity, Dr. Bruce Yandle notes that in many ways, we have a tale of two economies. There are important distinctions between the stimulus targets and the broader economy, and the most recent quarter of data paints a confusing, sometimes contradictory story. Unraveling the narrative, what questions will carry weight beyond the end of fiscal 2010?

Has the stimulus worked? Has it benefited any particular groups? Who is paying for it? What does the growth (or contraction) in various sectors indicate for the next quarter in fiscal 2011? Are we going to see a bumpy recovery? Should we worry about a double-dip?

Dr. Yandle’s quarterly Economic Situtation Report takes a snapshot of where we are, and offers hints as to where we might be heading.