Obviously we have a pretty weak economy and this was not unexpected. We knew they were going to have to revise it downward.

In total, we learned very little about the future of the economy or Fed policy except that the Fed is not ready to hike rates in the very near future.

We're not going to be in a recession if the economy reverses quickly. But if the war keeps going on, recession is a major risk.

The economy is one ugly event away from contraction.

This is a sector that should be one of the engines of growth and should keep the economy healthy in the face of the weakening housing market.

Even with a resolution to the situation in Iraq, the economy will still be suffering from some fairly significant headwinds.