Severe recession Possible says Fed

[dramama]

WASHINGTON (AP) - Worries about a deep recession drove Fed policymakers to slash a key interest rate last month, minutes of their closed-door meeting show.
Even as the Fed battled in almost unprecedented fashion to stem a widening credit and housing slump, some Fed members fretted over the possibility of "prolonged and severe" business downturn. It was in that environment that they vote—with some dissent—to cut this important interest rate by three-quarters of a percentage point to 2.25 percent. That action capped the most aggressive Fed intervention in a quarter-century.

Some Fed policymakers thought that such a widening recession could not be ruled out given the further restriction of credit availability and "ongoing weakness in the housing market," according to the meeting minutes that were made public Tuesday.
http://www.breitbart.com/article.php?id=D8VTRAJ00&show_article=1

[Jubilee21]

I was reading this last night and was fascinated by the actual meeting minutes as well as the concerns of two of the member's bring cited yet ignored in respect to what actually went down..I read it as stronger emphasis that a recession could not be ruled out but more along the lines it would not be avoided and was going to be far worse if things were done as they were from their position.

..that another rate decrease will probably show up at the end of April as well...

[Lorren]

First there was no recession...

Then there might be a possible recession...

Now it might be a severe recession.

At least they're finally figuring this out, I suppose.

[SumSam]

Or they knew it all along and they're letting it out bit by bit to delay it as long as possible. They have to be cautious and conservative in all their pronouncements.

[Waiting...]

Or they knew it all along and they're letting it out bit by bit to delay it as long as possible. They have to be cautious and conservative in all their pronouncements.

If using the terms "prolonged and severe" is the cautious and conservative pronouncement, we are in for hard times. Well those in Christ may not be.:yeah

[Glory]

I'm waiting for the word, "Depression" which none of them EVER say.

[SumSam]

If using the terms "prolonged and severe" is the cautious and conservative pronouncement, we are in for hard times.

True that! :faint

Well those in Christ may not be.:yeah

Yep! True that too! :yeah

[lilbitsyspider]

First there was no recession...

Then there might be a possible recession...

Now it might be a severe recession.

At least they're finally figuring this out, I suppose.

Don't you just love inconsistancy?:rolleyes And were paying for :ohnosome of the financial jocks...

[lilbitsyspider]

I'm waiting for the word, "Depression" which none of them EVER say.

Who's going to have to wait for that word, we'll see it everywhere:candle.