That Oomph You Hear Is Interest Rates Kicking In

It's hard to be optimistic about an economy that has disappointed so many for so long. Even two years into the recovery, growth in the first half of 1993 slipped back into the doldrums, and layoff announcements are unrelenting. But if there's any reason to be upbeat about the next few quarters, it has to be the recent signs that lower interest rates are finally working their magic across a broad swath of the U.S. economy.

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