San Fran Fed chief Janet Yellen is on the wires saying weakness pervades the economy and that GDP could fall 3%. The impact of falling house prices and home equity has been staggering she says and that authorities should pull out all the stops on monetary and fiscal policy.
Elsewhere, CNBC is showing pictures of a US Airways jet which was forced to land in New York’s Hudson River off Manhattan with 150 aboard. There are no signs of terrorism, according to first reports.
