Ben Bernanke, Federal Reserve Chairman, expressed confidence that the worst recession since the 1930s is almost over. In a speech before a Brookings Institution audience Tuesday morning Bernanke made the guardedly optimistic assessment that the economy likely had begun to grow again. He added that growth would be too slow to prevent unemployment from continuing to rise.
As inexpensive Chinese-made automobile tires keep rolling into the United States and U.S. tire manufacturers struggle to stay in business, President Obama will soon have to decide whether or not to impose a tariff on the imports.
Switzerland overtook the United States as the most competitive economy in the world, according to the global competitiveness index released this week by the World Economic Forum (WEF).
The Washington Post reported September 7 that the federal government is now guaranteeing 86 percent of all new home mortgages, as default rates continue to increase and threaten to require a bailout of federal loan guarantors such as the Federal Housing Administration.