US Economic Crisis is Not Yet a Recession

(15 Feb 08-RV) US Federal Reserve Chairman Ben Bernanke warned Congress yesterday the American economy is deteriorating and signalled a readiness to keep on lowering a key interest rate to shore things up. Bernanke was speaking to US politicians in Washington and said continued housing market turmoil and a weak labour market could further undermine consumer spending.James Lucier is a Managing director at AlphaCapital Management in Washington DC.
He says that The two key words in Bernanke's testimony were "sluggish growth." And there is no evidence yet of a recession ...