'Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads.
Federal Reserve chairman Ben Bernanke
Fed chairman Ben Bernanke will be hoping he can keep the US economy from recession
In a report "Recession Coming" released today, the bank's US team said the credit crunch had started to inflict serious damage on US companies.'
