Wednesday, November 15, 2006
News from USA: Housing Downturn Leading To Recession?
Federal Reserve governor William Poole yesterday said the bank may soon have to make a judgment whether the softer data was a "sign of impending recession", the first time a governor has used the recession word in this context. This article suggests a coming US recession and a decline in the value of the dollar; both are linked to the falling US housing market. Prices have been lowered in an attempt to liven consumers. Economists disagree over rising or falling inflation. Will the UK get this too?