Federal Reserve Chairman Jerome Powell delivered a stern commitment Friday to halting inflation, warning that he expects the central bank to continue raising interest rates in a way that will cause “some pain” to the … Read more
U.S. equity futures were lower Monday, putting Wall Street on track to take a breather after another positive week, as traders braced for big retail earnings. Futures tied to the Dow Jones Industrial Average fell … Read more
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 economy in a recession can produce 528,000 … Read more
In an earnings call this week, Yum Brands CEO David Gibbs expressed the confusion many people are feeling as they try to figure out what’s going on with the U.S. economy right now: “This is truly one … Read more
Something’s Gotta Give at the Fed TL/DR “Inflation has to stabilize higher than 2%, unemployment must baseline above 5%, or GDP must go significantly lower. Something has to give.” Questions were asked about the rationale … Read more
The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Gross domestic product fell 0.9% … Read more
Low financing costs, excess savings, and a demand for more space during the pandemic fueled a frenzy in the housing market that sent home prices surging. Homebuyers, however, are now confronting an increasingly unaffordable housing market that’s been plagued … Read more
Yesterday the Fed released the minutes from the FOMC’s July meeting. There were few surprises, but two things really stood out; members are anxious about inflation and they’re anxious about a recession. Yesterday the Fed … Read more
Stocks fell on Tuesday as concerns about a possible recession in the U.S. weighed on investor sentiment. The Dow Jones Industrial Average fell 525 points or about 1.7%. The S&P 500 dipped 1.8%, and the … Read more
Ark Invest CEO Cathie Wood said Tuesday that the U.S. is already in an economic downturn, and she admitted that she underestimated the severity and lasting power of inflation. “We think we are in a … Read more