Dark news ahead for the U.S economy?

With the Fed mulling over interest rate cuts, the news that the Fed is planning a series of cuts has already sent the Dollar to new lows against some of the major currencies. Now the Fed realise that the spiralling borrowing costs, the falling housing rates along with the credit crisis, things are going to look pretty dark ahead.
Already many of the companies are feeling the heat although at the moment it is being felt only by the outsourcing companies, as they have to pay more to get the same service which they had gotten before for a lesser cost. As cost increases, the borrowing cost will also increase. With housing rates falling and the credit squeeze increasing, soon no one would want to purchase anything at all and recession would have set.
And all indications are that this may well happen in the United states and the Fed is realising this and is trying to find its way out of the dark. But even if the Fed cuts rates all across the board, all of that may be a case of 'Too little, too late'!

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