End to Recession in Sight?

Sat, 02 Aug 2008 04:52:13 +0000

Where: New York, USA

March 25, 2009 : The New York Stock Exchange and European Stock markets showed high trading figures after the American government announced that it had planned another bailout package for banks. The United States Treasury is also expected to pump $1 trillion into the market for buying up ’toxic assets’. This means government will put money into those ‘bad assets’ which have frozen trading and aggravated the recession.

Mr. Ben Bernanke, chairman of the Federal Reserve, the central bank in USA, said he expects that the recession in the country will end this year. The recession, or economic slump, began in 2007. Large numbers of businesses closed down and most others have cut down on jobs and pay packets. The number of unemployed people is still rising in the USA and in the United Kingdom.

Recession on Pitara Kids Network

End to Recession in Sight?