A recession is a term used to signify two consecutive quarters (6 months) of decline in the nations GDP. This recession is expected to last for atleast another 2 quarters. By the 3rd quarter of 2009 things are expected to be back to normal.
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recessions
The primary tool used by the Federal Reserve when it responds to economic boons and recessions is the buying and selling of bonds in open market operations.The buying and selling of bonds in open market operations is the primary tool used by the Federal Reserve when it responds to economic booms and recessions.
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usually since the Andrew Jackson Era, America has been in recessions every twenty years. The latest was was in 2006. It is a normal part of the state economics.
Economists assert that economic recessions are actually beneficial to many homebuyers because both home prices and mortgage interest rates tend to be lowest during recession.