turnaround

No one in Newton, Iowa, would say the town's economy has recovered.

Consumers have been constrained by the housing crisis, a weak job market and high energy prices, but economists now are cautiously forecasting a turnaround in spending.

The low rates, combined with weakened housing prices, provide a great opportunity for homebuyers. Yet many markets are still far from a turnaround.

Charlotte Street was an apocalyptic nightmare version of urban life.

Most Federal Reserve policymakers believe that an economic recovery has started, although they view the turnaround as weak enough that some want the central bank to take additional steps to stimulate the economy, according to minutes of a meeting last month that were released Wednesday.

The job market is showing signs of improvement, according to the latest economic reports. But for those out of work and pounding the pavement, there are few signs of a turnaround.

Existing home sales surged in July as buyers took advantage of lower prices. Is it a sign the housing crisis is relenting?

Steve Henn reports.

The economy will start growing in the second half of 2009, but it will be several years before the positive effects of a turnaround will be felt, according to the Congressional Budget Office.

But in the world of credit reports, an "authorized user" is someone who is allowed to use another individual's credit card without being responsible for the bill.

That sounds like a sweet deal for the authorized user. But millions of people with good credit use this strategy to help their children or spouses build a solid credit history.

Thanks to a recent turnaround by Fair Isaac, developer of the widely used FICO score, this avenue to good credit will continue to be available.