2008 Woodie Awards
With the report Monday by the National Bureau of Economic Research that we have been in a recession since December of 2007, the need for efforts to help the economy is likely to take an even higher importance. With federal interest rates near zero, the limits of monetary policy in dealing with the economy are almost reached.
No doubt, you saw the prices going home for Thanksgiving. From $1.79, $1.69, to maybe even as low as $1.50. The price of gas has fallen through the basement to levels no one would've dared to predict during the summer. We were supposed to have gas hovering near $4 for the rest of our mortal lives.
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