Live

Watch CBSN Live

Nobel winner: U.S. economy "doing well"

Latest MoneyWatch headlines

WASHINGTON -- Harvard economist Oliver Hart, talking to reporters after learning he’d won the Nobel economics prize with Bengt Holmstrom of the Massachusetts Institute of Technology, sized up the state of the U.S. economy as OK.

“It’s doing well,” he said. “Not as well as we’d like, but it seems to be moving in right direction.”

U.S. employers added 156,000 jobs in September, according to the government’s latest figures released Friday. Although that’s well below last year’s average monthly gain of 230,000, the report paints a picture of a resilient economy that continues to steadily produce new jobs.

Asked whether Republican Donald Trump or Democrat Hillary Clinton would be best qualified to manage the economy, he said: “One is sane and one is insane. I hope sane one wins.” 

View CBS News In