2008-01-08 US recession is already here, warns Merril

2008-01-08 \US economy\Merrill Lynch http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/bcnuseco107.xml US recession is already here, warns Merril &ldquo;The US has entered its first full-blown economic recession in 16 years, according to investment bank Merrill Lynch. .. Merrill, itself one of Wall Street's biggest casualties of the sub-prime crisis, is the first major bank to declare that a recession in the world's biggest economy is now underway.&rdquo;   