Fed crafts economic rescue plan
Move reflects recession fears

Confronting new fears of recession, the Federal Reserve is refining an emergency economic rescue plan that includes further interest rate cuts and billions of dollars in extra cash for the banking system.

The Fed's effort would be aimed at pulling the country out of a nose dive that has seen 465,000 jobs evaporate in just the past two months, raising fears among economists that the weak recovery from the 2001 recession is in danger of stalling out altogether.
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  thanks to Eschaton

Economies begin march to recession
G7 indicators turning south

Carl Weinberg says he can't remember the last time he saw such a stream of universally miserable economic reports as those that poured out of the global economy last week.

"Every country we watch, in the last few days, has reported at least one indicator turned south or very depressed," said the chief economist of High Frequency Economics. "Almost every one of the declines booked was impressive."

Welcome to the global economy. It's more synchronized than ever, but the consensus among policymakers over how to manage it appears more fractured than ever.
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  thanks to DANGEROUSMETA!