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Recession Briefing: Big Boost for GDP
What you need to know today to survive and thrive in the recession.
The U.S. economy grew at the fastest pace in more than six years during the fourth quarter of 2009, according to a government report Friday. The nation’s gross domestic product, the broadest measure of economic activity, rose at a 5.7% annual rate in the fourth quarter. (CNN/Money)
Shoppers are taking haggling to new heights in the recession. A recent study found that 66 percent of American consumers had haggled at least once in the preceding six months, with an 88 percent ka-ching rate on gadgets, clothes, furniture and steak. (Washington Post)
Ben Bernanke won the backing of the Senate for a second four-year term as chairman of the Federal Reserve by a comfortable margin Thursday. Even with that storm behind him, Mr. Bernanke faces formidable political and economic challenges. (Wall Street Journal)
Recession Briefing: Goodbye, Tavern on the Green
What you need to know today to survive and thrive in the recession.
Despite extensive government intervention in the housing market, some policy makers at the Federal Reserve are worried that even more might need to be done. (New York Times)
The aftershocks from deep recessions reverberate for years, even decades, and take an enduring toll on everything from government finances to countless upended individual lives. What economist John Irons calls “economic scarring” will long serve as a reminder of the 2007-09 recession. (USA Today)
Lacking a license and loaded with debt, Tavern on the Green, the glittery New York City eatery, went dark after a final champagne-drenched fete on New Year’s Eve. On Jan. 13 relics of the shuttered restaurant will be auctioned off over three days. (Wall Street Journal)…
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