Senator Clinton Says She Sees `Worrying Signs' in U.S. Economy - 2007-03-15
New York Senator Hillary Clinton, the frontrunner for the Democratic presidential nomination, said she sees ``worrying signs'' in the U.S. economy that go beyond recent worries regarding subprime mortgages. Clinton, 59, today proposed increasing the role of the Federal Housing Administration to address an increasing number of defaults among subprime borrowers, who typically have poor credit records and are subject to higher interest payments.
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Housing mess risks recession unless Fed cuts: Merrill - 2007-03-15
House prices could drop 10 percent this year and increase the chances the United States may slip into recession unless the Federal Reserve lowers interest rates to cushion the fall in economic growth, Merrill Lynch said in research notes this week. Merrill said the main concern is that tighter lending standards in the mortgage market, even if confined to lower-quality borrowers, will constrain overall housing demand and stall recovery in the struggling housing market.
Read the full story at Reuters