Wednesday, January 14, 2009

How bad has the recession really been so far?

The worst since the Great Depression? The worst since 1945?

The Minneapolis Fed explores The Recession In Perspective, from which...

On the other hand, there's not much doubt that today's problems within the financial sector (as opposed to the entire economy) are indeed the worst since the Depression. How are things going there?

James Hamilton sees signs that they may be getting better, as does Bloomberg and VoxEu (via Mankiw as well.)

The New York Times says that they may be getting worse.