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The Latest reports speak to a weaker economic outlook for the rest of the year. New figures were released on Friday showing how the economy struggled, growing at a low rate of 1.6%.

Note that the estimate was 2.4%, and even that was not an impressive outlook. As the economy deteriorates further, the fed is looking to stake steps to prevent a second recession.

Economists are expecting the unemployment rate to increase to 9.5%, and they expect the unemployment rate to increase. The federal reserve is looking at several options including buying more government debt or mortgage investments, in order to keep interest rates down to increase business activity.

Even with disappointing economic news, we hope that with the low lending rates banks will find opportunities in lending to the sub prime sector.