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...joblessness hits its peak. This inflection comes when the rate of the increase in firings begins to slow. The most important moment in a downturn comes not when the damaging contraction's momentum has come to rest but when its progress has begun to slow. (See pictures of former Fed Chairman Alan Greenspan...
Normally in economic cycles, stocks bottom several months before an economic recovery gets underway. Investors' hope for such a turn was surely dampened by the Federal Reserve's new reading on the economy. Details of a meeting of Fed officials in late January reveal that they expect the economy to contract this year as much as 1.3%, a sharp downgrade from their expectation for modest growth in 2009, expressed last fall. The Fed also said that unemployment could reach 9% by the end of the year...
...Fed Chairman Ben Bernanke appeared Wednesday at the National Press Club and said that the federal effort to address the financial crisis could produce improvements in 2009. But he also cautioned that there was no economic momentum, and that inadequate federal action could result in a continued deterioration in the economy. (Find out why the stock market keeps dropping...
...Hockey Center. Despite outplaying the Wildcats through the last 25 minutes of play, Harvard gave UNH an opening when sophomore Liza Ryabkina drew a holding penalty with 1:21 left in extra time.The Wildcats seized the opportunity. UNH senior Sam Faber won a faceoff in the Crimson end, and fed the puck to junior Jenn Wakefield.With 39 seconds left, Wildcat sophomore Courtney Birchard received the puck in the right circle, and wristed it through a screen and into the back of the net to end the game.“Obviously, [we were] very disappointed in the outcome, because...
...very fortunate and privileged to be able to make a very nice living... But at the end of the day, people have to do different things: Your heart and soul will also have to be fed." - on why he left investment banking to go work for the USW, Pittsburgh Post-Gazette, January...