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The Fed is considering making more purchases of securities if the economy deteriorates further as the economic chief describes the recovery “less vigorous than expected”. Although he mentioned that the economy is expected to pick up for the next year, downplaying the odds of another recession, he cautioned that the economy is still vulnerable to unexpected events.

Nevertheless, the slowdown in consumer demand, and the terrible housing and manufacturing reports, may indicate another slow down of the economy.

But not all is bad news, with ultra low rates from the Fed, lending has been increasingly attractive to borrowers who may qualify for a loan to start new ventures. Hopefully bank executives, will see this as an opportunity to resume lending to the small business sector, as well as to take more risks on people without excellent credit.