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Home » Topics » economic contraction

Bernanke pledges action if economy falters

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WASHINGTON (Reuters) – The Federal Reserve is prepared to take further steps to help an economic recovery that is “close to faltering”, Fed Chairman Ben Bernanke said on Tuesday. Citing anemic employment, depressed confidence and financial risks from Europe, Bernanke urged lawmakers not to cut spending too quickly in the short term even as they grapple with…

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UK banks must ‘resume lending’ to avoid fresh recession

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LONDON — Britain risks falling back into recession unless its banks increase the amount they are lending to businesses and individuals, Business Secretary Vince Cable said in an interview with The Sunday Times. “The top priority now, to boost growth and jobs and avoid a double dip (recession), is making…

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