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
Photo: rawpixel.com (Shutterstock) Not to be too alarmist, but the economy isn’t very good right now. To start, don’t look at your 401(k) at present. Of stock market crash at soaring consumer prices, a recession seems to be looming. Although the news is troubling, there are steps you can take to avoid panic and protect … Read more
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
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
CNN — It’s unclear whether the U.S. economy will ever return to its pre-pandemic state, Federal Reserve Chairman Jerome Powell said Wednesday at a forum of central bankers in Portugal. “The economy is driven by very different forces. What we don’t know is if we’re going to go back to something like, or a little … Read more
Minneapolis CNN Business — The U.S. economy contracted at a slightly faster pace than expected during the first quarter, the Bureau of Economic Analysis said on Wednesday. With a quarter of negative economic growth on the books, the data adds to fears that a recession could be looming. Real gross domestic product fell at an … Read more
With prices soaring, labor shortages, the raging war in Ukraine, tight supply chains and interest rates now set to rise, fears of an impending recession are everywhere. Except, of course, at the White House – which is in total denial. Just like it was about inflation. “The ‘inflation shock’ is getting worse, the ‘rate shock’ … Read more
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
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