The Christian Science Monitor, December 13th, 2007
Byline: Ron Scherer Staff writer of The Christian Science Monitor New York -- The US economy is now slowing so quickly some economists believe it is close to a negative growth rate - and perhaps the forerunner to a recession. This sudden downshift in America's economic fortunes is one reason the Federal Reserve has dropped interest rates at its last three meetings - including a quarter point drop Tuesday. However, a growing chorus of economists believe the rate reduction may be a case of too little, too late. "The odds of a recession are now above 50 percent," says Mark Zandi, chief economi...
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