1. At this rate, at the next meeting of the Federal Reserve Board, perhaps Fed chairman Alan Greenspan will praise teenage buying habits for having averted a recession. 2. But even if the nation averts a recession, higher stock prices may not be the result. 3. But investors feared the package would be inadequate to avert a recession. 4. But recession has been averted because consumers are still spending. 5. But some companies, including General Motors and IBM, had better earnings than expected, and Wall Street found reasons to hope that a recession can be averted. 6. Central banks have frequently overshot, leaving interest rates high for too long or continuing to raise them until it is too late to avert recession. 7. Corporate profits shriveled, but a brightening mood among consumers implied a recession might be averted. 8. Earlier, the Fed implemented a series of rate cuts to avert recession. 9. Evidently, the idea of the Greenspan put, and the idea that the Fed can indeed avert recession, both still exert a powerful hold. 10. House Speaker Newt Gingrich today renewed his call for tax cuts to avert a recession that he says may already have begun in the U.S. |