Photo: #Sam Raymond (R) of New York picks up a set of the FY 2008 Budget of the U.S. Government on its first day of release to the general public February 5, 2007 in Washington, DC.
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Sam Raymond (R) of New York picks up a set of the FY 2008 Budget of the U.S. Government on its first day of release to the general public February 5, 2007 in Washington, DC. (Photo by Alex Wong/Getty Images)

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The role of the Fed

Broadcast: Midmorning, 12/11/2007, 9:06 a.m.

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The Federal Reserve is expected to lower interest rates, to help avoid an economic recession. Among the troubling signs are the mortgage crisis, cutbacks in consumer spending, and more reliance on credit cards.

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  • James Hamilton: Professor of economics at the University of California San Diego. He blogs at Econbrowser.com.
  • Mark Zandi: Chief economist at Moody's Economy.com.

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