That said, an economy several months into a recovery from the worst recession in decades should be yielding rail traffic levels heading north, not south. (Remember, demand for rail service occurs as a result of demand elsewhere in the economy for the products that railroads haul.) Thus, rail traffic in June 2010 is consistent with an economy that is in far better shape than it was nine months or a year ago, but is, in the words of former Federal Reserve Chairman Alan Greenspan, “more than likely” undergoing a “pause.
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