A sobering economic view
A report from the Federal Reserve Bank of Cleveland delivered some unsettling news as we roll toward the holiday season. Indicators suggest there is a 24% chance the U.S. economy was in recession last month. The Cleveland Fed represents Ohio and parts of Pennsylvania, West Virginia and Kentucky, where the Ohio Capital Journal noted there have been a number of worrying indicators. Credit card debt is rising faster in Ohio than in all but four other states. We had the fifth-highest unemployment rate in the country in August. In fact, hiring across the country has slowed dramatically, ...