US already in recession - Schroders

Wade pointed to US consumer confidence having dipped to a 16 year low and, for the first time in four years, payroll numbers having fallen as jobs have been lost in both the manufacturing and construction industries. Wade outlined how Ben Bernanke, chairman of the US Federal Reserve, has already taken decisive action to try to prevent the economy sliding any further; in January the Fed cut interest rates twice, taking them down to 3pc. "The first of these two cuts was the single largest in 25 years and signaled an aggressive approach to tackling the problems in the economy," he said. ...