No double dip, says Fed

The Federal Reserve released the minutes of its June meeting today. Here are their predictions, which contrast with what many experts are predicting (namely, a double-dip recession) as economic data on housing and employment remains grim. In the minutes, the FOMC said it "continued to anticipate a  moderate recovery in economic activity through 2011." However, due to current financial conditions "most participants revised down slightly their outlook for economic growth, and about one-half of the participants judged the balance of risks to growth as having moved to the downside."

Besides the question of whether we're headed for a double-dip recession, another market conundrum these days is the direction of equities. The stock market has rallied this month on positive earnings reports, but some say the rally could be just a correction. You can get more analysts' views on the direction of stock indexes in Futures' August issue, online July 26. And tell us what you a double-dip recession coming? And where is the stock market headed? Leave your comments below.

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