Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 9:52:01 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Economists See Rising Risk of Recession

Posted Dec 11, 07 6:59 AM CST in Business 

(Newser) – Economists are painting a bleak picture of the US economy next year, with the housing mess, reduced job growth, and rising unemployment putting the likelihood of recession at its highest level in three years, the Wall Street Journal reports. Nearly all the economists surveyed by the paper said the Fed must take strong action to support recovery.

The Fed, said one, should act to “avert risk of recession and stabilize the financial crisis." Of 52 economists, 88% say the Fed needs to cuts rates today. The 52 economists surveyed say the potential for recession is 38%, up from 33.5% in November. The group also said Rudy Giuliani (35%) would be best for the economy, followed by John McCain (19%).

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Recession Fears Overblown: Economists

    May 14, 08 9:50 AM CDT
    Recession Fears Overblown: Economists A growing number of economists are saying, cautiously, that the US might have pulled back from the brink of recession, the Wall Street Journal reports. The experts credit swift action by the Federal Reserve to lower interest rates and save Bear Stearns in March, and even the ongoing distribution of fiscal-stimulus checks, as catalysts for the detour. More »

  • Restaurants, Retailers Gulp as Consumers Tighten Belts

    Apr 27, 08 11:46 AM CDT
    Restaurants, Retailers Gulp as Consumers Tighten Belts The rising price of staples like milk and gas, coupled with layoffs and flat-lining wages, is creating a nation of penny-pinching consumers, the New York Times reports. Industry is taking notice as buyers substitute generic brands for top-of-the-line products and skip eating out at restaurants. More »

  • Fed Ponders Pause in Rate Cuts—After 1 More

    Apr 24, 08 10:05 AM CDT
    Fed Ponders Pause in Rate Cuts—After 1 More The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »

  • Pelosi, Dems Hijack Colombia Free-Trade Deal

    Apr 9, 08 6:58 PM CDT
    Pelosi, Dems Hijack Colombia Free-Trade Deal Congressional Democrats thumbed their noses today at Bush's renewed efforts to pass a free-trade pact with Colombia. Bush sent the bill over Monday, mandating Congress to vote yea or nay within 90 days. Or so he thought. Nancy Pelosi is changing the House rules and won't allow a vote until the White House attends to more pressing domestic issues, the New York Times reports. More »

  • Dems Push New Aid Package as Job Market Swoons

    Apr 5, 08 9:25 AM CDT
    Dems Push New Aid Package as Job Market Swoons Democrats are calling for another stimulus package to help American workers as unemployment soars, the New York Times reports. Almost 250,000 American jobs have been lost since the beginning of the year—including 80,000 in March—leading one policy expert to say it's time the government switched focus from the housing crisis to the flagging job market. More »

Trader Michael Scagnelli bites his fingernail as he works on the floor of the New York Stock Exchange, Monday, Dec. 10, 2007. Wall Street advanced Monday as expectations for an interest rate cut from...   (Associated Press)
A foreclosure sign tops a sale sign outside an existing home on the market in northwest Denver in this Aug. 29, 2007 file photo. The Bush administration has hammered out an agreement with industry to...   (Associated Press)
Federal Reserve Chairman Ben Bernanke speaks at the 2007 Charlotte Chamber annual meeting in Charlotte, N.C. on Thursday, Nov. 29, 2007. (AP Photo/Nell Redmond)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 3)

Tags

US economy  • Federal Reserve  • recession


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »