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The U.S. economy has contracted more sharply than previously believed, according to new government figures. Meanwhile, in yet another sign of continuing stress in the credit market, the U.S. central bank is allocating hundreds of billion of addition
By Michael Bowman Washington 19 May 2008 A Washington-based business group says the U.S. economy remains sluggish, but will likely avoid a major recession. VOA's Michael Bowman reports. The last two U.S. recessions, in the early 1990s and in 2001, sa
The U.S. economy has contracted more sharply than previously believed, according to new government figures. Meanwhile, in yet another sign of continuing stress in the credit market, the U.S. central bank is allocating hundreds of billion of additiona
By Barry Wood Washington 13 November 2007 With world credit markets still not functioning smoothly, experts say inadequate US regulation is largely to blame for the home loan related credit squeeze that surfaced last August. VOA's Barry Wood has more
Former U.S. Federal Reserve Chairman, Alan Greenspan, has predicted further negative impacts for Americans from the U.S. and global financial crisis, which he called a credit tsunami. Greenspan and two other current and former U.S. officials, faced t