Recession?
- Published January 23rd, 2008 in Upfront News, Economics
Bernanke’s private horror stories. Fed Chairman Ben Bernanke has said ‘off record’ in recent weeks that the U.S. economic situation is much worse than he has admitted to publicly, and predicts the first six months of 2008 will be “bad.”
Another 0.5% next week? Federal funds futures contracts predict at least another 25 basis point rate cut at next week’s FOMC meeting, while a majority of traders think the Fed will follow yesterday’s 0.75% cut with another 0.5% cut next week.
This goes to some economic pundits questioning the incoming recession. Federal Government is cutting (yet again) interest rates so people continue their endless indebtedness. Until when will they push this off? What about cutting spending? Here’s one thing that might help: get out of Iraq.
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