US industrial production up sharply in March

Numbers: Industrial production jumped 0.9% in March, the Federal Reserve reported on Friday. The gain was well above Wall Street expectations of a 0.4% gain, according to a Wall Street Journal survey. Additionally, February’s gain has been revised up to 0.9% from the initial estimate of a 0.5% increase. For the first quarter as a … Read more

Recession ‘likeliest outcome’ for US economy, says Larry Summers

Former Treasury Secretary Larry Summers, whose non-consensus views on the risks of lingering inflation have come to fruition, reiterates his worries about a potential US slowdown: He now says a recession is “the likeliest thing “in part because the Federal Reserve “is going to have to continue [in its effort to subdue inflation] until we … Read more