Policy choices in event of recession.(The Economy)

From: ABA Banking Journal | Date: February 1, 2008| Author: | Copyright information

THE U.S. ECONOMY MAY AVOID recession in 2008, but it will be a close call. Growth is slowing in reaction to the credit crunch, falling house prices, and rising energy prices. But time and again, the economy has proved to be resilient; and so far, growth is slowing in a relatively controlled fashion.

To be sure, the housing sector is a mess. Recent data confirm that the credit crunch has extended and accelerated the downward trends in building permits, home sales, and house prices. The only realistic hope is that the drag from housing will become less intense over the course ...

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