Obama stimulus plan halted economic freefall, White House
WASHINGTON, Feb 17 — President Barack Obama’s US$787 billion (RM27 billion) stimulus prevented another Great Depression while creating or preserving 2 million jobs, according to a White House report to be released today. The report, signed by Vice President Joe Biden who oversees how stimulus money is spent, stressed the depth of the crisis confronting Obama when he took office 13 months ago, as ...
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New local Fed chief sees slow recovery
Narayana Kocherlakota predicted high jobless rates through 2011 and defended the Fed's actions in averting another Great Depression.
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