Rumours of recession’s end exaggerated
Indicators suggest that the US Federal Reserve’s intimation of economic recovery may be premature
Is the recession finally coming to an end? The board of the US Federal Reserve caused a stir last week by mustering a ‘yes’ - albeit a cautious one - in response to the question. But several other economic indicators - particularly new statistics concerning retail sales and joblessness - provided little evidence with which to support the Fed’s relative optimism.
Last Wednesday, the Fed’s key policy-making committee said data it...
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