Current Events

The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday.
The NBER - a private, nonprofit research organization - said its group of academic economists who determine business cycles met and decided that the U.S. recession began last December.Many economists believe the current downturn will be the most severe since the 1981-82 recession. The country is being battered by the most severe financial crisis since the 1930s as banks struggle to deal with billions of dollars in loan losses.