Here’s how much the value of your Social Security check is likely to increase next year

Good news. Kind of. If you’re retired or about to retire, next year’s Social Security checks will likely see one of the biggest bumps on record due to soaring consumer prices. The average recipient could be in line to receive up to $180 more per month starting next January, depending on recent inflation. And they … Read more

Opinion: Why are Americans so grumpy about the economy? They’ve never lost so much purchasing power in a year as the stimulus dries up and inflation boils over

If you want to know why Americans are so grumpy about the economy, let’s start with the fact that despite strong job growth and huge wage increases, their incomes just aren’t keeping up with inflation. Americans just don’t feel poorer – they are poorer. In fact, they have never lost so much buying power in … Read more

Opinion: Stocks could drop 50%, argues Nouriel Roubini. Things will get worse before they get better.

NEW YORK (Project Syndicate) — The global financial and economic outlook for the year ahead has deteriorated rapidly in recent months, with policymakers, investors and households now wondering how much they should revise their expectations and for how much. of time. It depends on the answers to six questions. six questions First, will the rise … Read more

Raging US inflation begins to ease, major price indicators show

Numbers: A key indicator of inflation in the United States rose 0.6% in May, mainly due to higher gasoline and food prices, but there were new signs that pressures on prices were starting to subside. The increase in the so-called personal consumption price index was three times the 0.2% gain recorded in April. But a … Read more

S&P 500 falls for 3rd day in a row after Powell says there is no guarantee of a soft landing for the US economy, JP Morgan warns of recession risk

U.S. stock indexes ended mixed on Wednesday as investors focused on remarks from central bankers and business executives amid fears that soaring inflation could hurt the world’s largest economy. How have stock indices performed? The Dow Jones Industrial Average DJIA, +0.27% rose 82 points, or 0.3%, to end at 31,029.31. The S&P 500 SPX, -0.07% … Read more

The first Wall Street bank to call a recession in the United States now sees a chance that inflation does not decelerate

Deutsche Bank, the first major bank to predict a U.S. recession in the current inflationary era, now sees a chance that price gains won’t happen as much as forecasters or Federal Reserve policymakers think. Deutsche Bank DB, -2.61% Macro strategist Tim Wessel said in a phone interview on Wednesday that “there is a real chance … Read more

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