djc
12-13-2007, 10:02 PM
http://www.msnbc.msn.com/id/22251269/
Economic growth ‘getting close to stall speed’ due to housing, credit crisis
WASHINGTON - Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are “clearly rising” and he believes economic growth is “getting close to stall speed.”
Greenspan, who ran the central bank for 18 1/2 years, until early 2006, offered his views on the economy in an interview on NPR News’ Morning Edition that will air on Friday. Excerpts of the interview were released on Thursday.
A severe slump in the housing market, a stubborn credit crisis and turbulence on Wall Street are endangering the country’s economic health. Growth in the current October through December period is expected to have slowed to a feeble pace of just 1.5 percent, or less.
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Not surprising or unexpected IMHO.
Economic growth ‘getting close to stall speed’ due to housing, credit crisis
WASHINGTON - Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are “clearly rising” and he believes economic growth is “getting close to stall speed.”
Greenspan, who ran the central bank for 18 1/2 years, until early 2006, offered his views on the economy in an interview on NPR News’ Morning Edition that will air on Friday. Excerpts of the interview were released on Thursday.
A severe slump in the housing market, a stubborn credit crisis and turbulence on Wall Street are endangering the country’s economic health. Growth in the current October through December period is expected to have slowed to a feeble pace of just 1.5 percent, or less.
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Not surprising or unexpected IMHO.