What happened to recession? The Feds donot think there is one ahead or behind. Whatever, its coming from horses mouth. They know they have the power to take down anything. But what about your depressive psychosis and numerous breakdowns since you slumbered out of your drunken New Years parties? What about your trading accounts that got all those margin calls and you hit that dirty linoleum floor with a cheap bottle? Were those fears really well founded and real ? Read these minutes of Feds reports and and tell me: From Investors Business daily 2/20/2008: "The Federal Reserve on Wednesday lowered its estimates for U.S. growth while also raising its inflation outlook. The dayâs economic data backed up those troubling forecasts. But stocks rose as policymakers signaled that theyâll set aside concerns over price pressures for now. The Fed expects the U.S. to grow 1.3%-2% this year, down from its October forecast of 1.8%-2.5%. It also sees a bigger rise in unemployment to 5.2%-5.3%. The Fed cited the intensifying housing slump, tighter credit conditions, financial market turmoil and higher oil prices. âEconomic activity had decelerated sharply in recent months,â according to minutes from the Fedâs Jan. 29-30 meeting. The Fed cut rates by a half-point at that meeting â a week after an emergency 75-basis-point ease. Housing starts rose 0.8% to an annual rate of 1.012 million in January, the Commerce Department said Wednesday. But thatâs just above Decemberâs 16-year low. Single-family starts fell for a 10th straight month, to a 17-year low. Building permits, an indicator of future activity, sank 3% to an annualized 1.048 million, the lowest since November 1991. âWeâre going to see continued weakness in home building for the next few months,â said Scott Brown, chief economist at Raymond James. "