Word: recessional
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This growing soft power of China was strengthened by the 2008 Olympics extravaganza, and the Shanghai Expo next year will similarly dazzle. The 60th anniversary celebration in Beijing on Oct. 1 will impress, if not frighten, the world with an arresting display of military hardware and goose-stepping soldiers. Less...
Taming the Markets Regulators on both sides of the Atlantic are trying to limit abuses that led to the meltdown, such as the reckless issuance of subprime mortgages. In the U.S., the Treasury Department and lawmakers are seeking to bring greater transparency to the arcane world of financial derivatives by...
Ben Bernanke uttered the words after a speech at the Brookings Institution, the Washington think tank. Strobe Talbott, the Brookings president, had asked the Federal Reserve chairman about the employment outlook. It took Bernanke 417 words to answer him, and his basic message was that the outlook wasn't so...
Stop the presses: the Fed chairman says the recession is over and the recovery has begun! Never mind that, as Bernanke noted, this is by now common opinion among economic forecasters--and has been for weeks. Also never mind that Bernanke's prediction record as Fed chairman hasn't been...
So why are we nonetheless making a big deal out of the Fed chairman's words? Partly because he's powerful. Bernanke's opinions on the economy's future shape the U.S. government's decisions about interest rates, bailout efforts and the like. Right now the main monetary-policy debate...