11/9/2007

Since the Fed dropped the short-term interest rate last week, stocks have sunk, the dollar has continued to weaken, oil prices have continued to rise and worries about the economy have intensified. For now, however, the Fed maintains the outlook that growth will slow through the end of the year, be "sluggish" early next year and then get stronger as lingering effects of the mortgage lending crisis begin to wear off.

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