The Federal Reserve has upgraded its forecast for the U.S. economy in 2012 but also downgraded its outlooks for 2013 and 2014. There are worries the U.S. could fall back into recession just like the U.K. did.
There are some economic headwinds blowing strong right now. And one of them is coming from Spain where a disappointing bond auction yesterday sent government borrowing costs to a 5 month high and renewed fears about the European Debt Crisis.
The U.S. government has confirmed that the economy grew 3 percent last quarter, and that could mean that the U.S. economy and the European economy are going to diverge this year as the U.S. grows and Europe shrinks.