Fed officials suggest worst of recession is over

Today, top U.S. officials offered reassurances that the worst of the economic downturn is now likely over, helped by an unprecedented effort to keep credit flowing. These same officials still however say that the recovery will be slow. When the financial crisis began in 2007, federal interest rates were at 5.25%, those rates have now been slashed down to as low as 0.25% or 0%.
An economic recovery is still reliant on the turnaround of the housing market, which has been pretty bad over the last 16-18 months. The United States and the rest of the world are by no means out of the woods yet, but will recover, it is just a matter of when.

http://news.yahoo.com/s/nm/20090418/bs_nm/us_usa_fed;_ylt=AnTo.j_Manu1be4Uktoz642yBhIF