WASHINGTON (AFP) - Americans are becoming increasingly worried about the struggling US economy as home sales remain stuck in a rut and as red hot oil prices stoke inflation fears, a flurry of reports showed on Tuesday.
The world’s largest economy has grown at a sluggish 0.6 percent pace, on an annualized basis, during the past […]

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WASHINGTON (AFP) - Further Federal Reserve interest rate cuts appeared more likely Wednesday after government reports showed a modest rise in inflation and that the housing market remained mired in a deep slump.
Many economists expect the US central bank to continue its aggressive rate-cutting campaign at a looming two-day meeting on April 29-30, especially as […]

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It’s been almost an article of faith: Any recession this year will be mild and brief. But now the stunning meltdown of a top Wall Street investment bank and stubbornly persistent financial market turbulence has called that into question, raising fears that severe problems in housing and the nation’s bedrock financial system could cripple the […]

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Wired News
As the mortgage and financial crisis continues to notch more victims, the question on many economists’ minds is not whether a recession will happen, but how deep it will get and how long it will last. But one prominent voice thinks the high-flying finance industry isn’t going to bounce back — and that we’ll […]

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AP - WASHINGTON - Fighting to stem a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke pledged Friday to do all that is possible to help struggling homeowners.
The Fed is “strongly committed to fully employing our authority, expertise and resources to help alleviate their distress,” Bernanke said in a speech to the National […]

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Reuters - The U.S. is likely in recession already and the housing market is expected to deteriorate further, JPMorgan Chairman and Chief Executive Jamie Dimon told a group of economists here on Wednesday.
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Bloomberg - The U.K. housing slump deepened in February and is now the worst since the eve of the nation’s last recession in 1990, a survey of real-estate professionals showed.
The number of residential property agents and surveyors saying prices fell exceeded those reporting gains by 64.1 percentage points in February, the most since June 1990, […]

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WASHINGTON (MarketWatch) — In the clearest suggestion yet of a recession, U.S. nonfarm payrolls fell by 63,000 in February, the second straight decline, the Labor Department reported Friday.
“Turn out the lights the party’s over,” wrote Joseph Brusuelas, U.S. chief economist for IDEAglobal. “We are in a recession.”
It was the largest drop in payrolls since March […]

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