Ahead of the Tape
Economy May Be Getting Its Wings Clipped</br></br>Here is the stuff of nightmares: You are piloting a plane that is losing altitude and not responding.</br></br>As the Federal Reserve concludes a two-day meeting Wednesday, it may be presented with fresh data hinting at such a calamity for the U.S. economy. First-class passengers like Mr. Stock Market appear blithely unaware as they enjoy a complimentary beverage. Those crammed in coach are starting to feel some bumps.</br></br>The economy isn't in a recession, but it will probably remain near what economists call "stall speed" following Wednesday's report on second-quarter gross domestic product. Economists polled by Dow Jones Newswires see annualized growth of just 0.9% -- tied for the second-lowest level of the expansion.</br></br>That follows growth of 1.8% and 0.4% in the previous two quarters. Growth below 2% for multiple quarters is thought to heighten the risk of recession.