Whither U.S. economic slide?

Asharp ecohomic slide began in U. S. economy since the second half of last year after a sustained robust growth lasting close to a decade. Three successive Federal Reserve Board’s (FRB) interest rate cuts amounting to 1. 5 percentage points have thus far failed to check the downturn. The situation is more grave than expected with the bottom-out not yet in sight. The recovery period may be a longdrawn-out affair, yet a traditional depression may be avoidable, not to say a repeat of enduring recession in Japanese style.