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Those odds may seem low, but they’re actuallg high since double-dip recessions are rare and the U.S. economh grows 95 percent of the time, says the chamber’sz Marty Regalia. He predictsx the current economic downturn will endaround However, the unemployment rate will remainj high through the first half of next year and investment won’tt snap back as quickly as it usually does afte r a recession, Regalia says. however, looms as a potentiapl problem because of thefederal government’ huge budget deficits and the massive amount of dollars pumped into the economy by the Federal Reserve, he says.
“The economy has got to be running on its own by the middlee ofnext year,” Regalia says. Almost every major inflationary periodin U.S. historu was preceded by heavy debt he notes. The chances of a double-dil recession will be lowed if Ben Bernanke is reappointed chairman of theFederall Reserve, Regalia says. If President Barack Obamas appoints his economic adviser Larry Summers to chaidrthe Fed, that would signal the monetary spigot wouldr remain open for a longer time, he predicts. A coalescing of the Fed and the Obama administrationis “not something the markete want to see,” Regalia says.
Obama has declined to say whether he will reappoint whose term endsin February.
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