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...After the GDP numbers were released, the Fed put out the minutes of its two-day Federal Open Market Committee. At the core of the statement was one of the greatest hedges in recent memory...

Author: /time Magazine | Title: The Fed: Things Will Get Better, If Everything Goes As Planned | 4/30/2009 | See Source »

...hardly subtle, that if its programs to improve the credit markets, the Treasury's plans to help banks and the auto companies, and the Administration's budget and stimulus package works, then the American economy will walk away from the worst recession in memory. It is a preposterous statement which implies that, left alone, the financial health of the country would be in ruins. The sole salvation of the production, housing, and employment sectors of the United States rests in very few hands, all of them in Washington. (See pictures of the global financial crisis...

Author: /time Magazine | Title: The Fed: Things Will Get Better, If Everything Goes As Planned | 4/30/2009 | See Source »

...other side of the statement of the Fed is a prospect which, far from being immodest, should cause every intelligent person in the country to shudder. If the great engineers of the plans to return the economy to health are wrong, the result will be a ship wreck, a catastrophe so large that it cannot be contained, no matter how much money the government is willing to invest...

Author: /time Magazine | Title: The Fed: Things Will Get Better, If Everything Goes As Planned | 4/30/2009 | See Source »

...hearings on Wednesday, members of Congress sharply questioned Secretary of Homeland Security Janet Napolitano on the possibility of virtually sealing off the border with Mexico. Said Republican Senator John McCain in a statement, "I continue to believe that all available options to end this crisis must remain under consideration, including closing the border if it would prevent further transmission of this deadly virus...

Author: /time Magazine | Title: Why Border Controls Can't Keep Out the Flu Virus | 4/30/2009 | See Source »

...Ceisler, a Democrat who has long supported Specter, said he had expected to see him make a bid as an independent, even though that is technically difficult under Pennsylvania law, and was taken aback by his complete switch of parties. That switch, he said, appears to be the loudest statement of disapproval Specter can make about the Republicans and not necessarily an endorsement of the Democrats. "I don't expect Arlen Specter to be any different as a Democrat than he was as a Republican ... He was a maverick Republican. He's going to be a maverick Democrat," Ceisler said...

Author: /time Magazine | Title: Pennsylvania Democrats Reserved on Specter | 4/29/2009 | See Source »

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