You call this a recession?

Standard & Poor's takes a look at the current status of the US economy.

The surprise Federal Reserve rate cut last week and the apparent agreement on a stimulus package helped brighten the outlook for the economy and financial markets, but it may be too late to avert recession. Standard Poor's has revised its forecast to include the new stimulus package and the quicker Fed rate cut. We now expect the Fed to cut rates to 2.5% by spring. Economic releases included

Sales of existing homes fell 2.2% to 5.89 million in December.


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