Today, Yahoo! News reported (via the Associated Press) that The Federal Reserve dropped interest rates by half a point instead of the assumed three-quarters of a point. This is in hopes of the economy bouncing back from a recession that most news outlets have been anticipating on occuring for at least 2 months now. Around the world, the economies of other nations have started a downturn as well because of talks of a recession here in The U.S. The AP also reported that this definitely would not be the last time in the near future that The Federal Reserve may have to drop interest rates.
With all this talk of dropping interest rates and government rebates circulating for the past few weeks, is it now safe to say that The U.S. is in the grips of a recession?
Random Thought of the Moment: “You wanna stop the recession? How about a national cap on gas prices?”
The Song of the Moment: “The One That Got Away” by Johnta Austin