washington business
In Their Words
Rana Foroohar is TIME magazine’s
assistant managing editor in charge of
economics and business. She spoke at
this year’s Policy Summit, delivering an
optimistic address about the future of the
U.S. economy. Foroohar said she believes
“localnomics” — pockets of economic
vitality on display in places like Seattle,
Columbus, Ohio and Brooklyn, N.Y. —
will eventually drive the nation out of
its lackluster 2 percent growth economy.
Washington Business writer Jason Hagey
caught up with her shortly before the Policy
Summit to talk about current events.
Rana Foroohar
A little more than two years ago, your TIME
cover story, “What Recovery?” generated buzz by
questioning a number of assumptions, including that
the downturn was a “temporary blip” and that either
the Federal Reserve or the private sector could turn
things around. What has changed since then?
I think the thi