Chief economist at State Street Global Advisors
Probyn expects the economy to perform better in the second half of the year, but said in an interview that 2009 remains a concern.
"The fiscal stimulus package is ... a rebate system, not a permanent tax cut. It giveth in the second half of this year, and it taketh away in the first half of next year," Probyn said. "That's where everyone will be focusing their attention — what comes after?"
If the economic decline proves to be more than just a soft patch, Probyn said, the government may create new fiscal stimulus packages, including one that could extend unemployment benefits.