Ben Bernanke, the Chairman of the US Federal Reserve, said yesterday that America’s housing downturn was set to steepen and slow the economy for longer than had been thought.Would we feel safer???
However, he reassured markets by emphasising that the woes of the construction and mortgage sectors were unlikely to spread to the wider financial system. The American economy would rebound from its weak pace in the first quarter of the year, he said.
[ cf Bernanke sounds alert over housing ]
Or should we switch over and worry that poor paris hilton had been forced to spend a night in Jail....