Tuesday, April 29, 2008

The week ahead

From the Economist
THE extent of America's economic woes will become clearer with the release of first quarter GDP figures on Wednesday April 30th. They are likely to show that the economy contracted in the first three months of 2008, perhaps by around 0.5% compared with a year ago. The Federal Reserve concludes a two-day meeting on Wednesday and is widely expected to announce a cut in interest rates of at least a quarter of a percentage point and perhaps half a point. Further economic stimulus will come in the shape of tax-rebate cheques that will be posted out by America’s Internal Revenue Service on May 2nd. more

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