During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued it will be much more
On Tuesday’s broadcast of “CNN This Morning,” Bank of America CEO Brian Moynihan stated that there was too much COVID stimulus, and “Now, we have to adjust to that decision. And that’s why you’re seeing the Fed tighten quick.” Moynihan
United Furniture Industries fired its entire workforce in the middle of the night right before the Thanksgiving holidays.
Real household disposable income is likely to fall by over seven per cent over the next two years in Britain, despite claims from finance minister Jeremy Hunt that his budget will bolster the economy.
Here we go again. The Commerce Department on Wednesday said that consumer spending grew by 1.3 percent compared with September, when spending was unchanged with the prior month. Compared with a year ago, retail sales were up 8.9 percent. Total
During a portion of an interview with CNN released on Monday, Amazon Executive Chair Jeff Bezos said that “the economy does not look great right now.” And “if we’re not in a recession right now, we’re likely to be in
Britain’s Treasury chief Jeremy Hunt warned of spending cuts and tax increases for cash-strapped Britons despite a looming recession.
Britain may have already entered a recession as the latest economic figures showed that the economy contracted in the reporting quarter between July and September.
Britain’s Chancellor of the Exchequer is laying the groundwork for a series of tax hikes and service cuts in the name of fighting inflation.
On Friday’s broadcast of CNBC’s “Squawk Box,” New Jersey Gov. Phil Murphy (D) stated that he is concerned about the prospects for employment because there are no historical examples “where the Fed has been this aggressive and the economy didn’t
We’re headed for a recession next year and there will be little chance for fiscal policy or monetary policy to provide relief.
The ongoing gas crisis has resulted in the German economy losing over $100 billion, a report from a major economics institute has claimed.
Chinese customs data for October released on Monday revealed a surprisingly steep drop in both imports and exports, the latter contracting for the first time since the early days of the Wuhan coronavirus pandemic in 2020.
The Bank of England predicted the UK will experience the longest recession in recorded history on Thursday as it raised interest rates again.
Over one-third (37 percent) of small businesses could not pay their rent in full or on time in October.
On Monday’s broadcast of CNN’s “Early Start,” Moody’s Analytics Chief Economist Mark Zandi said that we have “a long way to go to get back to anything anyone would feel comfortable with” on inflation, stated that even if the economy
During the “Overtime” segment on Friday’s broadcast of HBO’s “Real Time,” host Bill Maher said that the prospects of avoiding a recession don’t look good and pointed out that people were already losing “a lot of money” in the market.
Yesterday’s report on third-quarter gross domestic product included a seemingly hopeful bit of data on business investment. Unfortunately, it was probably just another head fake.
During portions of an interview with CNN aired on Thursday’s broadcast of “OutFront,” Treasury Secretary Janet Yellen stated that she doesn’t see indications of a recession in the American economy right now, the Biden administration isn’t getting credit for economic
On Thursday’s broadcast of NBC’s “MTP Now,” CNBC Economics Editor Jeff Cox stated that if you took out the unsustainably high rise in exports, the third quarter GDP would have been negative and most economists believe that by “early or
The specter of a coming economic slump haunts the return to growth shown in U.S. economic data for the third quarter.
The economy very likely grew in the third quarter, but that growth will not last.
Officials from Ukraine are looking to get the EU taxpayers to bankroll them to the tune of $2 billion dollars every month.
On Tuesday’s broadcast of the Fox Business Network’s “Fox Business Tonight,” Professor of Economics at Harvard University and former International Monetary Fund Chief Economist Ken Rogoff stated that Democrats “spent too much too late” after the coronavirus pandemic and that’s
We got more evidence on Tuesday that we are headed for at least a bout of recessionary stagflation.
The third regional Fed report suggesting stagflation.
During an interview with NBC News on Monday broadcast on Monday’s edition of MSNBC’s “The 11th Hour,” Treasury Secretary Janet Yellen said she can’t rule out the possibility of a recession, there is a path to reducing inflation while still
During an interview with NBC News on Monday broadcast on Monday’s edition of MSNBC’s “The 11th Hour,” Treasury Secretary Janet Yellen argued that many companies are struggling because “there’s been a shift in the global economy” and many companies sell
Instead of trying to stave off a downturn, the Biden administration appears to be trying to pre-blame Republicans for it.
Biden claims the economy is stronger than it was prepademic. Not many Americans agree.
Are we too optimistic about the U.S. economy?
China’s state-run Global Times on Thursday bemoaned the collapse of demand from Western countries for “festive products for coming Halloween,” while taking some solace in brisk orders for “Christmas consumption.”
Joe Biden says the economy is “strong as Hell.” Most Americans disagree.
Colombia’s far-left President Gustavo Petro accused the United States on Wednesday of “ruining all the economies of the world,” deflecting blame as Colombia, whose economy is currently at risk of entering a recession, faces the worst decline in the value of the country’s peso currency and the highest annual inflation rate in over two decades.
The Biden economic slump is coming on even faster than thought, according to the Leading Economic Index from the Conference Board.
A very stagflationary report from the Federal Reserve Bank of Philadelphia.
Appearing Tuesday on the Fox Business Network, former Chrysler CEO Robert Nardelli warned Americans to brace for a recession.
The probability of a 2023 recession has reached 60 percent, up 10 points since September, according to a Bloomberg monthly survey of economists.
On Friday’s broadcast of the Fox Business Network’s “Fox Business Tonight,” Rep. Emanuel Cleaver (D-MO) said that “once we get out of this recession,” “we need to smooth out our spending and try to deal with our deficits and our
On Thursday’s broadcast of CNBC’s “TechCheck,” White House Council of Economic Advisers Chair Cecilia Rouse responded to a question on whether she thinks we could have a recession that is larger than the “slight” recession that President Joe Biden sees
