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Though the stock market has recovered the ground lost during the downturn, interest rates remain near all-time lows — crimping the elderly's income from savings.
Yet the need to worry about the currency will nonetheless hamstring the central bank's ability to fight an economic downturn; interest rate cuts become much riskier when capital flight is an issue.
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Tourist offices are already reporting a downturn in interest from head office in the event.
PwC's sustainability head Malcolm Preston said: "While no sector was immune from the (financial) downturn, client interest and investment remained particularly around carbon issues, reporting and assurance".
Radio 1 executives today blamed the downturn on interest in the World Cup and a general decrease in audiences across most radio stations.
With the weakness of the pound, the credit market freeze and the subsequent recession, "we noticed a marked downturn in interest from new buyers and inquiries from late 2008 to mid-2009," Mr. Brown said.
In its traditional role as steward of the over-all economy, the Fed initially did what it was bred to do in a downturn: lower interest rates to invigorate the economy.
The first family that moved to Dothan in early 2009 had to leave town because of job scarcities during the recession, Mr. Goldsmith said, and the economic downturn slowed interest in the program to a trickle for years.
Large deficits can be benign or even desirable during recessions and wars, or when used to finance productive public investments; and in a deep, long-lasting downturn, with interest rates at or near zero, a well-timed, sensible fiscal response can theoretically help in the short term.
And borrowing is typically a great deal during a downturn, when interest rates are low.
In an advertising downturn, special-interest magazines could get hurt even more than their general-interest counterparts, Mr. Capell said.
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