December 14th, 2007
- Former Federal Reserve Chairman Alan Greenspan told National Public Radio in an interview broadcast Friday that the odds of a recession are "clearly rising" with economic growth "getting close to stall speed."
- Consumer inflation surged by the largest amount in more than two years in November, led by gasoline prices. The cost of clothing, airline tickets and prescription drugs also jumped. The surge in inflation adds another risk to an economy that is already struggling under the weight of a meltdown in housing, a severe credit crunch and faltering consumer confidence. AP
- Energy costs were up 5.7 percent in November, with gasoline prices rising by 9.3 percent, the biggest increase since May. Gasoline prices have been pushed higher by a renewed surge in global energy costs that pushed crude oil prices close to $100 per barrel last month. - AP
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