US a year into recession

According to the Bureau, the United States has in fact been in recession for one year now, making it the first recession since 2001 and the longest US downturn in a quarter of a century.

US interest rates already sit at just one per cent but this news could prompt a further reduction when the Federal Reserve meets on December 16.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 03 December 2008