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Fears rise of deeper recession amid Bear Stearns collapse
Washington analysts warn the financial crisis could deepen into a severe recession. Former Fed chair Greenspan and economist Feldstein flag a wrenching downturn, while Bear Stearns’ collapse prompts fears of broader credit strain as the Fed inserts unprecedented support and markets swing sharply this week.
MENTIONED IN THIS ARTICLE
Washington
Wall Street
Federal Reserve
Alan Greenspan
Harvard
Martin Feldstein
National Bureau of Economic Research
Bureau
Bear Stearns Co
Bear Stearns
Mark Zandi
Moody’s Economy.com
Fed
Lyle Gramley
Stanford Financial Group