Economic Uncertainty Is Plummeting

We keep seeing various indications people are feeling better about the economy, with consumer confidence returning to pre-recession levels.

Still, a longstanding canard has been that pervading "uncertainty" has stifled a stronger recovery.

Over the last five months, however, economic uncertainty has taken a nosedive. Researchers at Stanford and the University of Chicago charted it out.

Stanford/U. Chicago Economic Policy Uncertainty Index

Here's their larger index, based on the volume of news articles discussing economic uncertainty, CBO reports, and Fed forecasting.