Turn of a Phrase
The Federal Reserve has decided not to raise interest rates. No surprise there. What's interesting is how the Associated Press reports the story writes reader (and Knoxville newspaper reporter) Michael Silence. The AP:

WASHINGTON (AP) - The Federal Reserve held a main short-term interest rate at a 45-year low Tuesday, an effort to keep the economic resurgence moving forward.

Says Silence, "I find it interesting, and perhaps significant, that this phrase has now gained mainstream acceptance: 'to keep the economic resurgence moving forward'."

Yeah. It's almost as if the press has finally admitted the recession - which ended more than a year ago - is over.

You can find the AP story here and here. Also, this AP story published before the Fed's latest interest rate decision, shows the AP believes the economy is "perking up" and "enjoying strong growth" and all that. Since few newspapers outside the largest cities have reporters who write original economic coverage, the AP story - and the recovering-economy meme - will soon be the dominant economic story in most newspapers nationwide. This can't make anyone running for President who isn't named Bush very happy.