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Worst over, says Bank`s new recruit Britain could already be through the worst of the recession, according to the newest recruit to the Bank of England's interest rate-setting committee.David Miles, a City economist and the replacement for the arch-dove David Blanchflower on the nine-strong monetary policy committee, said he was 'guardedly optimistic'.Miles expressed confidence that the emergency measures taken by the government - deep cuts in interest rates, increased public spending, and boosting the money supply - were having an effect. 'I'm less pessimistic than many of where the economy may be going,' he said.'Economic history teaches us that a combination of tax cuts, running large fiscal deficits, substantial cuts in interests rates and more quantitative easing is likely, with a certain time lag, to have a substantial impact on demand in the economy and it may well be that the worst of the recession may well be behind us,' Miles said in the Western Mail. 'That's not a confident prediction but a judgment about what GuardianBids lower than expected on 3 stimulus road projects in Colorado Bids for three road and bridge projects, paid for with money from the federal stimulus package, were opened Thursday by the Colorado department of Transportation. Biz JournalRecession hits for real, but Google unfazed Google's first-quarter results showed the effects of the recession. But the company still made plenty of money to invest in its long-term projects. CNETGoing Beyond Monopoly The battered economy is driving a new interest in money oriented games for kids. The StreetSalma Hayek insists lavish weddings are a waste of money The actress - who married long-term partner Francois-Henri Pinault in Paris in February - has denied she is preparing to renew her vows in a follow-up ceremony and reception for friends and family because she doesn't see the point. The Arizona RepublicDrinkers save money by taking it home Milwaukee » Bad economy or not, Marty Stogsdill still likes his scotch. But the 26-year-old computer consultant is more apt to enjoy it at his condo with friends than in a bar these days. The Salt Lake TribuneCongress back to deal with big issues, big goals WASHINGTON (AP) -- So far this year, Congress has done what it does best - spend a lot of money and make a lot of promises.... The Arizona RepublicClinton`s Campaign Debt: Should Mark Penn Get Paid? Clinton's former presidential campaign is raising money to pay off her bills. But some allies are irked at having to shell out for the polling firm's failures TIMEGang triggerman honored with `Scarface` hat A baseball cap dangles from a cement cross. The slogan on the hat reads 'power, money, respect.' On the brim there's the logo of the classic gangster movie 'Scarface.' CNNHillary Clinton`s Campaign Debt: Should Penn Get Paid? The former presidential campaign is raising money to pay off her bills. But some allies are irked at having to shell out money for the polling firm's failures TIME1 2 3 |
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