As diverse financial reports trickle in, it appears the country’s economic freefall has slowed and according to many economists, “We have found the bottom.” On Aug. 12, the Federal Reserve announced that the recession is heading towards an end, and according to a New York Times article, the Federal Reserve is “taking a step back toward normal policy.” With this good news in hand, the United States is now embarking on a new journey - recovery.
We are not completely out of the woods yet. Unemployment and inflation issues remain at the top of the nation’s problem list and it will be interesting to see what the financial outcome of vast government bailout programs will yield. The recovery pattern is uncertain. It may be a quick rise back to the top, a brief lull and then a quick rise to the top, or it may mean stability without a vertical rise to previous income levels and profits. The United States economic structure may be experiencing its new normal, but only time will tell what shape the recovery will take.
Still, the trip down is coming to an end and I am curious as to how each of you have fared. Any bumps and bruises? How is the staff? Did you have to let anyone go or did you hire people? Acquire any ailing businesses? Shut the doors of your business? Participating in any economic stimulus programs/contracts. The recession has affected everyone in a different way and I would like to hear your story.