By (AP)
Published:
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
AP News
Gaffney: The Autos' Perfect Storm
Federico: Why Exercise?
Fed sees economic woes persisting into next year By Danny Johnston (AP)
Pounded by a fierce financial crisis, the country is sinking deeper into economic despair and is likely to be in the hole well into next year, forcing more Americans into the ranks of the unemployed.
The gloomy outlook from the Federal Reserve came as hopes dimmed that Congress could secure a fresh $25 billion rescue package for the tottering U.S. auto industry before lawmakers quit for the year.
With economic troubles cutting into customers' appetites, businesses will remain in a cost-cutting mode, keeping layoffs high. Read More...
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