The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: DuckTapeSunroof who wrote (36390)	8/28/2010 6:36:26 PM
From: Hope Praytochange	Read Replies (1) of 103300

The remarks—the strongest signal yet that the Fed is ready to bolster growth—cheered investors, who bid up U.S. stocks. Speaking Friday to world monetary policymakers gathered in Wyoming, he said "policy options are available to provide additional stimulus" to the U.S. economy, should it be necessary. The latest sign of trouble for the economy came Friday as the Commerce Department revised down its estimate for second-quarter growth in gross domestic product. The economy grew only 1.6% in the period, not the 2.4% annual rate previously estimated. Stumbling GDP growth adds to the gloom already created by plunging home sales and other signs that consumers are shying away from spending. Technology bellwether Intel Corp. warned Friday its third-quarter revenue could fall short of estimates because of weak demand for personal computers. All of this drives home a grim political reality for the Obama administration and for Democrats facing elections this fall: What many had hoped would be a "summer of recovery" is ending on a dismal note.

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