Economy may still go down, are better days ahead?
“WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke on Thursday held the door open to more interest rate cuts to help the struggling economy, but told Congress the central bank expects growth to pick up later in the year.” – Yahoo News
Well, their it is folks, the bank says they expect it to grow. So, everything is fine and dandy right? WRONG! Why the heck are we in this situation anyway. We wouldn’t have to deal with what we’re dealing with if we just payed attention beforehand. We should have been paying attention to our own country and not other countries. Giving money away to Musharef and Israel like its free. We must stop this nonsense spending. Yeah, everything is probably going to be fine and dandy, but this was just a waste of time, how did we get here and what ae we going to do to prevent it? Oh, well its beyond my control.
“The Fed “will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks,” Bernanke told the Senate Banking Committee. He acknowledged the outlook for the economy had worsened in recent months and said risks to growth had picked up. His comments reinforced investors’ expectations the central bank would lower interest rates by a half-percentage point at its next meeting on March 18.” – Yahoo News
“The Fed chairman forecast a further drop in home building and related activities, and said a softer jobs market, higher energy prices and falling home values could be expected to weigh on consumer spending in the near term.
Tighter credit is also likely to continue to hold growth back, he said. “A significant worsening in financial conditions or in credit availability would certainly be a warning bell that we need to take further actions,” Bernanke said.” – YahooNews
“The White House and Congress put together a $168 billion fiscal stimulus plan, which was signed into law by President George W. Bush on Wednesday. The plan offers tax rebates to households and incentives for businesses to invest.
Like Bernanke, Paulson said he saw the economy dodging a recession. “I believe that we are going to continue to grow, albeit at a slower rate, but risks are to the downside,” he said.” – Yahoo News
Yup, we did dodge a recession. We just got lucky this time right?
What do you think?