Lies Jeannine Aversa and the AP told me...
Seriously, who writes this junk? Is there a propaganda mole from "Hooray for Everything" working in the AP's offices? Or are they just hiring people with low scores in reading comprehension and math?
Here's what the AP headline and story read:
Fed Survey Sees Signs Recession Is Easing- AP
The economy's sharp downhill slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed. A Federal Reserve snapshot of economic conditions says five of the Fed's 12 regions reported that the "downward trend is showing signs of moderating."
Getting worse at a slower rate isn't a move toward positive. (...unless you're graphing the change in rate of decline? Think maybe that's their deal? Hahaha. Me neither.)
In 7 out of 12 regions, the recession's getting worse. How is that "moderating" or "easing?"
Maybe Jeannine Aversa and those AP types didn't read the thing.
Here's what the Fed actually says, right up top:
Reports from the twelve Federal Reserve District Banks indicate that economic conditions remained weak or deteriorated further during the period from mid-April through May. However, five of the Districts noted that the downward trend is showing signs of moderating. Further, contacts from several Districts said that their expectations have improved, though they do not see a substantial increase in economic activity through the end of the year.
The AP should correct this article, and pronto. It's beyond slanted, it's wrong.