Thursday, March 26, 2009

Happy times are near! group of top financial people think the recession will end this year

the AP has a news story people at Moody's forecast that the current recession will end by the end of the year.

They basically point to the action that Obama's administration has done to try and stimulate the economy and banks.

they see banks lending wants their bad assets are gone and expect housing sales to turn up by the middle of the year (though we wont see prices as high as they where during the boom)

It's not all good news though, because the unemployment rate is still expected to go up until the middle of next year. thought they think that it will not peak as high as it could have if no stimulus action was taking (they think we will see a peak of 10% unemployment but we could have seen a 12% unemployment rate)

Let's hope that they are right about the end of the recession being soon (though hopefully employment will pick up sooner then they foretell)

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