From the Wall Street Journal via the WSJ's Real Time Economics blog:
In today’s Journal, Sudeep Reddy presents five reasons why the U.S. economy may avert a recession.
The Fed is on the case.
The Fed, which has cut its main target for short-term interest rates by a full percentage point since August, is expected to ease rates through the middle of next year to cushion the economy from housing and credit woes, and officials are experimenting with new tools in an effort to ease the credit crunch and encourage banks to keep lending to worthy borrowers.
Global economic growth is raising demand for U.S. goods, offsetting softer domestic consumption. Emerging markets, which buy more than half of U.S. exports, continue to grow, some at an accelerating pace, even as industrialized economies cool....MORE