On Wednesday April 2, 2008, the Chairman of the Federal Reserve Bank hinted that the United States economy may beheading towards recession in the first half of the year, but will rebound in the second half through 2009. Despite this news, the U.S. Dollar firmed following good news coming from the labor market, which said that private sector jobs increased in March 2008 by 8,000 compared to 70,000 loss originally expected by economists.