Credit Crunch is coming for the U.S. that'll Tip the Economy into Recession, 'Dr. Doom' Economist Nouriel Roubini Warns
The U.S. is heading for a credit crunch that'll tip the economy into recession, according to “Dr Doom” economist Nouriel Roubini.
Inflation and Bank Earnings in Focus This Week
First quarter earnings season will get underway this week with big banks reporting results on Friday, April 14, as investors turn their attention slightly away from Fed policy and towards the state of play in corporate America.
JPMorgan Says U.S. is Probably Headed for Recession as Economic ‘Engines about to Turn Off’.
A series of banking crises this month headlined by the failure of Silicon Valley Bank has forced analysts from multiple banks, including JPMorgan Chase, to rewrite their recession forecasts from scratch,
Celebrity Mark Cuban Urges Fed to Buy Silicon Valley Bank Debt ‘Immediately,’ Saying It’s ‘Not the Wealthy Taking the Hit’
On Friday, March 10, the bank failed following a bank run that saw investors and depositors trying to withdraw $42 billion on Thursday alone.
Hawkish Comments from Fed's Powell Send Dow, Nasdaq, S&P 500 Sharply Lower
Hawkish comments from Federal Reserve Chair Jerome Powell sparked Wall Street selling on Tuesday, as hopes further dimmed that the central bank would be able to halt its interest rate hiking in the near future.
60% of Americans Live Paycheck to Paycheck — ‘Inflation is Part of Their Everyday Lives,’ Experts Say
As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report.
California Faces Blizzard Threat as Winter Storm Causes Outages across U.S.
As rare blizzard warnings were issued for the Southern California mountains, combined outages due to ice, high winds and heavy snow across the U.S. left more than 800,000 customers without power as of early Friday February 24.
Inflation Cooled Just Slightly, With Worrying Details
Inflation has slowed from its painful 2022 peak but remains uncomfortably rapid, data released Tuesday showed, and the forces pushing prices higher are proving stubborn in ways that could make it difficult to wrestle cost increases back to the Federal Reserve’s goal.
Goldman Sachs Cuts U.S. Recession Odds to 25% on Strong Labor Market
After calling for a recession during the first half of last year and then for much of the latter half saying one was likely in 2023,
Wall Street to Jerome Powell: We don’t Believe You
Powell and his fellow Fed committee members yesterday hiked short-term interest rates another 0.25 percentage points to 4.75%, which means retirees and other savers are getting the best savings rates in a generation.
U.S. Economic Growth Stronger than Expected, but Not by Much
The U.S. economy fared better than expected at the end of last year, despite higher borrowing costs and the rising cost of living weighing on activity.
U.S. Economy Losing Momentum As Retail Sales Post Biggest Drop In 12 Months
U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023.
Fed Officials See Higher Rates for ‘Some Time’ Ahead
Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank’s December meeting.
U.S. Pours Money Into Chips, but Even Soaring Spending Has Limits
Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.