1. A method for equalizing an orthogonal frequency division multiplexed (OFDM) signal having been encoded by spreading a plurality of transmitted subcarriers in the frequency domain using a plurality of orthogonal codes, comprising the steps of: receiving the OFDM signal at a receiver; demodulating at least a portion of the OFDM signal to produce demodulated information; producing a spread frequency domain representation of the demodulated information; determining an equalized spread frequency domain representation of the demodulated information by adjusting at least one of a power and a phase of the spread frequency domain representation at least one frequency based on a plurality of adjustment values; de-spreading the equalized spread frequency domain representation using the plurality of orthogonal codes to produce a de-spread frequency domain representation including a plurality of received subcarriers; determining a subcarrier value for each of the plurality of received subcarriers; orthogonally spreading at said receiver the determined subcarrier values in the frequency domain using the plurality of orthogonal codes to produce a model spread frequency domain representation of the determined subcarrier values; and calculating a plurality of new adjustment values based upon the model spread frequency domain representation of the subcarrier values.