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Bernanke admits US recession is possible

Ben Bernanke, chairman of the US Federal Reserve, has admitted that an American recession is possible.

Though the Fed has spent the past couple of months trying to stave off a mass economic downturn using short-term auctions and other financial policy instruments to inject liquidity into the market, it seems it’s not having the desired effect.

In a speech to Congress yesterday Bernanke says: “Although our recent actions appear to have helped stabilize the situation somewhat, financial markets remain under considerable stress.”

When asked to clarify his comments and whether recession is possible he adds: “Recession is possible… it’s clearly a period of very slow growth… we are trying to set our policies appropriately for that situtation.”


House prices stayed static in February

House prices in England and Wales remained static on average during February with no monthly price change, says the Land Registry. The Land Registry says the average house price in the UK now stands at £185,616.When the Land Registry’s latest figures are broken down into regions instead of average UK prices, they show London prices […]

More pain before first-timers gain

Michael Coogan says that the way things are going, if he had £200,000 he’d either buy a US bank or a large mattress and stuff the money under it

We should have acted to avoid US cold

An American friend of mine who lives in London recently complained that her nationality attracts a lot of criticism from Brits. She said the war in Iraq, climate change and the abuse of human rights are often blamed on her simply because of where she was born.

Overcome fear of outsourcing

Colin Greaves, operations director at Newcastle Building Society, explores why outsourcing is not just a strategy for big players but can be a viable option for all businesses in these turbulent times


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