What Recession?

Some economists say a U.S. recession may have been averted, as the markets and some economic indicators have improved since the Federal Reserve engineered a bailout of Bear Stearns in March. The Fed's quick move to slash interest rates to 2 percent helped, too. Wachovia, for one, now puts the odds of recession at just 45 percent, down from 90 percent in April, say published reports.