News : Is It Credit Crisis In US WIll Over

Today, I read a news on www.economist.com about credit crisis in US. It is said that Former Federal Reserve Chairman Alan Greenspan said that the worst of the credit crisis is over, according to sources who attended a speech he delivered in New York.

Greenspan also said U.S. house prices still had a long way to fall and that it was unlikely they would stabilize by year-end, according to meeting attendees who provided Reuters details of the speech at the Alternative Public Strategies Conference.

The U.S economy is reeling from a housing-led slowdown, with some analysts convinced it is already in a recession despite a 0.6 percent growth rate in the first quarter.