U.S. recession will last 14 months says Fed survey

NEW YORK (Reuters) – Private-sector economists believe the U.S. economy fell into recession last spring and now expect a sharp contraction in the fourth quarter of this year after slashing their forecasts for gross domestic product, a Federal Reserve Bank of Philadelphia survey said on Monday.
The bank’s quarterly Survey of Professional Forecasters also predicted non-farm [...]

President-Elect Barack Obama’s First Weekly Video Address: November 15, 2008

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As president-elect, Barack Obama came before the press careful not to overstep his boundaries but, at the same time, appear in control. Katie Couric talks with Bob Schieffer and Anthony Mason.

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Barack Obama Hits The Ground Running With His First Order Of Business

NEDRA PICKLER | November 7, 2008
CHICAGO — President-elect Obama is calling on economic experts to discuss the first steps toward healing a damaged economy as he forms a new administration in the face of a worsening crisis.
“We’re not starting from nowhere,” said Lawrence Summers, a Treasury secretary under President Clinton and one of the 17 [...]

Rachel Maddow Show: Economic Storm