Reuters: Americans worry about economy, despite rate cut - by Andrea Hopkins
Americans worry about economy, despite rate cut - by Andrea Hopkins
Americans are worried about the economy and fear housing woes and war spending could spark a recession, despite the interest rate cut this week that sent stock markets soaring. Many people interviewed echoed findings of a Reuters/Zogby poll released on Wednesday that showed one in three Americans expects a recession in the next year, with some even raising the specter of a 1930s-style Depression.
"We're beginning to use the D-word, not just the R-word," said Chris Gibbons, 63, a housing finance consultant."An interest rate cut at this point is the worst thing they could do. You can't convince us inflation isn't going crazy. Starbucks has raised prices twice lately. Ever try to buy orange juice? Prices are going up and up," Gibbons said. "The economy is in the toilet."
Labels: Economic Crises, US Economy
