Bernanke says the economy may slip to recession. I am going old school, which is the best school, and using the traditional definition of a recession as two successive quarters of economic contraction. Meaning Americans produced less stuff two quarters in a row than they did last year. That is the classic definition of a recession.

Japan's Nikkei Index rose for the third straight day following gains overnight on Wall Street and a week of fluctuation amid global worries about a possible U.S. recession. Financial analysts say concern is steadily growing among investors and officials in Asia about just how damaging the predicted recession will be.

Crude oil fell below 100 dollar a barrel after a US government report showed demand dropped and investors sold commodities on concern an economic slowdown will lower consumption.

Sweden’s Finance Minister has revised downwards predictions made last autumn regarding the country’s economic growth forecast for 2008 and 2009.

US President George W Bush has denied that the US economy was in recession or would go into one despite a spate of downcast reports and gloomy indicators.

Have you heard the word stagflation? It's more associated in recent times to U.S. economy. If you guessed that stagflation means a combination of stagnation and inflation that's close. The long story short, the fears of both, in relation to U.S. economy are are coming back.

The U.S. economy will most likely be able to avoid recession. Interest rate cuts would help the economy pick up pace later this year, Janet Yellen, the President of San Francisco’s Federal Reserve Bank said.

The Bombay Stock Exchange benchmark Sensex today plummeted by 523 points, its biggest loss in the last two weeks with software and metal stocks falling on reports of contraction in US service industry.

The U.S. Senate will hold debates on two competing versions of an economic stimulus plan Thursday.

The leaders of Britain, France, Germany and Italy plus the European Commission will meet in London on Tuesday to discuss how to respond to recent turmoil on global financial markets.

Interest Rate Manipulation and Inflation in the Housing Market Have Led to Recession.

The President's economic stimulus package might be agreed upon today. In fact they have already reached a tentative agreement on the economic stimulus package.