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Question of the Day
“Stabilization of the financial markets is a critical first step, but even if they stabilize as we hope they will, broader economic recovery will not happen right away,” he said. “Economic activity had been decelerating even before the recent intensification of the crisis,” and prospects for most sectors has worsened in the past month.
c Kara Rowland contributed to this article in New York.
About the Author
- Unemployment rose to 6.2 percent in July; 209K jobs added
- Economy springs back in nearly every sector
- Energy Department eyes regional gas reserves for emergency use
- Economists see signs of another market bubble
- Crude oil will head north of the border to Canada
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