The former chairman of the US central bank Alan Greenspan has warned that US economic growth has stalled and a quick recovery is not likely.
"As of right now US economic growth is at zero," he said, adding the longer it stayed this way the greater the risk of a deep recession.
Wall Street giants Goldman Sachs and Merrill Lynch have both forecast that the US economy will contract in 2008.
The US Federal Reserve has said 2008 growth will be between 1.3% and 2%.
The forecast, made last week, was half a percent lower than the Fed's previous estimation.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment