America slides deeper into depression as Wall Street revels [Telegraph]

Makes the case that the inflation hawks who are pushing for higher rates are way off:

Fed hawks are playing with fire by talking up about exit strategies, not for the first time. This is what they did in June 2008. We know what happened three months later. For the record, manufacturing capacity use at 67.2pc, and 'auto-buying intentions' are the lowest ever.

Not everyone is expecting continued economic growth this year with higher interest rates.