Fed report paints troubling picture
A report from the Federal Reserve Bank of Cleveland delivered some unsettling news. Indicators suggest there is a 24 percent chance the U.S. economy was in recession in October. The Cleveland Fed represents Ohio and parts of Pennsylvania, West Virginia and Kentucky, where the Ohio Capital Journal noted there have been a number of worrying indicators. Credit card debt is rising faster in Ohio than in all but four other states. The Buckeye State had the fifth-highest unemployment rate in the country in August (the Capital Journal notes “despite years of spending billions on ...