03/28/2008 02:45 am ET | Updated May 25, 2011

Economists Fear No Quick Solution In Sight

There is no quick cure for what ails the U.S. and global economies, but if the Federal Reserve's emergency interest rate cut on Tuesday can instill some confidence among consumers, companies and investors, it may speed a recovery.

Interest rate reductions take time to work, and they cannot undo the damage inflicted by the tumbling U.S. housing market and subsequent credit contraction that has curbed the flow of cash to households and businesses, pushing the U.S. economy to the brink of a recession.

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