Federal Reserve Chairman Ben Bernanke climbed Capital Hill on Wednesday with some bad news. "It now appears likely that gross domestic product (GDP) will not grow much, if at all, over the first half of 2008 and could even contract slightly." By one definition of the word, six consecutive months of decline in the GDP (the value of all goods and services produced in the United States) constitutes a recession.
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Posted: 4/3/2008 |
