The	U.S.Recession Will Not Take Place  
It has been a long time since the direction of interest rates was clear-cut, and last weekÛªs activities added to the confusion.</br></br>Reflecting these uncertainties, the market itself was on a roller coaster. But with all the crosscurrents swirling around the markets, thatÛªs easy to understand. Consider the following items:</br></br>President ReaganÛªs speech. Certainly a prescription that could help our economy as well as the sthck and bond markets. But, left to the deliberations of Congress, we do not know when and what the end results will be.</br></br>Is the Federal Reserve allowing interest rates to decline? In the week ending Jan. 9, the average federal funds rate (the rate that banks charge each other for the use of their excess reserves) was 20.26 percent. On Thursday this rate fell as low as 14 '/ÐÊ> percent before rebounding above 15 percent. It was this decline that lifted</br></br>But, has the Fed reached some ^^^wiith-jihe. administration to allow) rates to decline for fear of activating the budget processes that increase spending and deficits during an economic decline? Or has the Fed taken into consideration the precarious financial condition of the thrift institutions in the Northeast caused by high interest rates, and begun moving to head off any bankruptcies that could occur? Or has the Fed looked at the depressed auto and housing industries and decided to help them?