"The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability," the Fed said. The rate cuts are the latest in a series of groundbreaking moves by the world's top central banks to try to breathe life into embattled financial markets. And it's a sign that the problems in the U.S. economy are spreading.
MTE Members: I don’t need to go into every depressing detail on how the US economy is currently doing. What I would like is some feedback how its affecting everyone firm, and private business. Please feel free to share your opinion in this forum.
Just click “comments” and type your thoughts.
4 comments:
I am a financial planner and i also sell group health insurance in the Boston MA area. The last two months have been very hard, my clients are in a panic and its very hard to give them any optimism.
Alan i hear you, i am also a financial planner down in Miami Florida. I guess all you can say is history has taught us there are booms and there are busts.
It's really hurting my firm, most people are nervous that cutbacks are coming
Clients are unable to obtain financing to complete their real estate deals. Only the cash players can take advantage of the current discounts in prices.
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