There is no problem with the economy. There is no credit crisis, nothing is out of control.
A novel, if somewhat unorthodox, method of combating inflation has recently been implemented with initially spectacular results by the United States government. Through legislative manipulation of market forces, primarily in the mortgage and housing market, they have succeeded in creating a massive recession, with results as far afield as the UK. 'The Bank of England has said inflation could fall below its target of 2% next year - and might drop as low as 1%.' (BBC News)
We may now expect to see the base rate of interest to be lowered, thus increasing inflation again (so, presumably this will happen after the rate of inflation becomes negative), and lowering unemployment, avoiding a full-blown depression as a result of this daring policy.