Economic recession in U.S. by Daniela Simkova

The main economic question in U.S. is whether the economy is able to bear the tendency of the upcoming recession or whether it will collapse under this threat. Many economists predicted economic recession at the beginning of the last year as well but the number of odds have increased then. Therefore the biggest investment bank on Wall Street says that the economic recession is inevitable for this year. "There are a lot of headwinds and the economy probably has enough momentum to get through, but when things get rough, there are a lot of ways things could go wrong," said Bill Cheney, a chief economist at John Hancock Financial Services. The solution of the economic recession inheres in the act of dropping rates. Much hope is put into this act of the Federal Reserves. Ben Bernanke, a Federal Reserve Chairman said: "The Federal Reserve is not currently forecasting a recession. We are forecasting slow growth."Alan Greenspan, a former Federal Reserve Chairman, and Martin Feldstein, a top economist adviser of the precedent President Reagan expressed their views on this problem. Martin Feldstein said, that U.S. economy is not in recession but it is still weakly expanding and Alan Greenspan stated, that economy is "getting close to stall speed."

by Daniela Simkova for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Zerzanova