The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point, condemning the Biden administration for arguing over semantics and failing to comprehend the real pressures people felt. Brian Moynihan, head of the bank – one of the world’s largest …
On July 25, Walmart warned about its earnings for the rest of the year, saying that high fuel and food prices were prompting consumers to cut back on other spending, forcing the chain to cut prices on some non-essential goods, such as clothing, electronics and home goods. The earnings warning was seen as another sign …
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images The Federal Reserve’s path to bringing down runaway inflation while keeping the economy from slipping into a major downturn is still open but is getting narrower, according …
The brutal GDP report released on July 28, showing the economy had contracted for a second quarter in a row, led some to insist the much-feared recession had already arrived. And in some ways that makes sense: Since 1948, every period of back-to-back quarters of negative growth coincided with a recession. But the recession-is-already-here argument …
As the risk of a recession draws nearer, Citi group has produced a screen of 30 stocks to help investors find opportunities during the second half of 2022. Stocks have rebounded in recent weeks with major indexes up by double digits from their June lows. The S&P 500 has risen about 10% since the end …
10 Stocks That Should Shine in a 2023 Recession: Citi Read More »
Commercial real estate is down and hybrid work is a big reason why, according to one real estate executive. According to data from MSCI, commercial real estate transactions fell 22% in the second quarter from a year ago. And while inflation and an economic recession are both weighing heavily on the minds of real estate …
A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an …
Danger ahead: The U.S. economy has yet to face its biggest recession challenge Read More »
They’re praying for a recession to “force” the Fed to pivot. But it’s tough to have an official recession with employment growing, wages surging. By Wolf Richter for WOLF STREET. It wasn’t the hottest growth in jobs ever, but it was big and exceeded the pre-pandemic average job growth. Employers added 528,000 workers to their payrolls in July, …
Recession Mongers Shocked & Horrified by this Surge in Employment Read More »
‘We should have an objective definition’ Officially, the NBER defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed a second consecutive contraction this year. Still, …
Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in Sept “reasonable” Oil stabilises after hitting six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro …
Sterling falls as BoE expects recession, U.S. futures up Read More »
