U.S.: The Doomsayers Might Be Jumping The Gun
It's easy to be pessimistic right now. Important data are headed south, and there was a note of urgency in the Federal Reserve's surprise interest-rate cut. Stock prices have given up all of their post-rate-cut surge. Investors are still fretting about profits. And some of Wall Street's top economists are concluding that the economy is already in recession.
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