Tag: Economic News
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Fed no longer foresees a U.S. recession — and other things we learned from Powell’s press conference
[ad_1] The Federal Reserve on Wednesday raised its benchmark interest rate to a range of 5.25% to 5.5%, the highest level in 22 years, in order to combat “elevated” inflation. With financial markets and economists widely expecting that rate move, the focus was on Fed Chair Jerome Powell’s one-hour session with reporters, which followed. Here…
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Markets have been celebrating disinflation, but it may be bad for stocks
[ad_1] While investors are celebrating signs suggesting U.S. inflation is slowing down, such a trend may negatively impact company earnings and in turn weigh on stock prices, as companies release their second-quarter financial results while the Dow Jones Industrial Average is on pace to record its 12th straight day of advance. “Stock prices are a…
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Opinion: Fed officials were slow to fight inflation. Now they may be too easy on it.
[ad_1] Political pressures on the U.S. Federal Reserve and President Joe Biden’s economic agenda have delivered a painful blow — inflation still above the Fed’s 2% target, high interest rates and declining living standards. COVID-induced supply chain disruptions can be blamed for about half of the surge in inflation that began in early 2021. Most of the…
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Consumer confidence climbs to 2-year high as worry over inflation and recession ease
[ad_1] The numbers: A survey of U.S. consumer confidence climbed to a two-year high of 117.0 in July, a sign that Americans are growing more optimistic about the economy. The closely followed index rose 6.9 points from a revised WAS 110.1 in June, the Conference Board said Tuesday. Consumer confidence tends to signal whether the…
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S&P Case-Shiller shows U.S. home prices up for fourth straight month in May
[ad_1] U.S. home prices rose for the fourth straight month in May, according to the S&P Case-Shiller index. A broader measure of home prices, the national index, rose month-over-month in May by 0.7%, but was down 0.5% over the past year. All numbers are seasonally adjusted. Nationally, year-over-year appreciation in May was down 1.7% though,…
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South Korea’s economy grows faster than expected in second quarter
[ad_1] South Korea’s economy grew at a faster-than-expected pace in the second quarter, remaining on track for recovery after avoiding a technical recession in the previous quarter. Gross domestic product in Asia’s fourth-largest economy grew 0.6% on-quarter during the April-June period following a 0.3% increase in the first quarter, preliminary Bank of Korea data showed…
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Opinion: China is feeling the pinch from a weakening global economy and U.S. restrictions
[ad_1] For decades, China set a shining example of how to capitalize on globalization to accelerate domestic economic growth and development. These days, however, the country risks becoming a cautionary tale about mishandling globalization’s shift from a beneficial tailwind to a disruptive headwind. Although the Chinese economy’s recent travails have some unique characteristics, they illustrate…
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Stock market strategist David Rosenberg gives the Fed no credit — and no mercy
[ad_1] It’s said that you don’t know an economy is in a recession until it’s in one. Or as David Rosenberg puts it: “Recessions are like an odorless gas. They sneak up on you.” These days, Rosenberg is looking for fresh air. A former chief North American economist at Merrill Lynch and now president of…
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Stock-market ‘meltup’ to continue if no recession signs, says Steve Eisman of ‘Big Short’ fame
[ad_1] “‘So far there’s no evidence of recession, and so long as there’s no evidence of recession, I believe the market will continue to melt up.”” — Steve Eisman, managing director at Neuberger Berman That’s Steve Eisman, whose bets against collateralized-debt obligations tied to the U.S. housing market catapulted him to international fame following the…