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Tag Archives: recession

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German recession ‘inevitable’ – Deutsche Bank

The engine of European economic development, Germany, is set for a contraction, Deutsche Bank CEO Christian Sewing warned this week, as cited by CNBC. According to the media outlet, Sewing said in a speech at the Handelsblatt Banking Summit in Frankfurt that the war in Ukraine “destroyed a number of certainties” …

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US Treasury secretary denies recession

US Treasury Secretary Janet Yellen has denied that the American economy is in recession, even though a report this week may confirm it by the most common definition, saying the nation is instead going through a “necessary and appropriate” slowdown. Yellen defended President Joe Biden’s economic policies in an NBC News interview …

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Eurozone faces mounting recession risk – Bloomberg

The risk of recession in the euro area is growing, economists polled by Bloomberg warned on Tuesday, citing the shortage of natural gas, as well as inflation – which remains at record levels – as the main factors. The likelihood of recession has reportedly surged to 45% from 30% in …

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US Treasury weighs in on recession prospects

A full recession in the US is not “at all inevitable” despite an economy that is slowing down, Treasury Secretary Janet Yellen claimed on ABC’s This Week program on Sunday. “As the labor market has recovered and we have reached full employment, it’s natural now that we expect to transition …

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Stocks fall amid recession fears

All three major US stock market indices continued their downward slide on Monday, amid growing expectations of significant rate hikes from the Federal Reserve and an emerging consensus of economists that the country was entering a recession. The Dow Jones Industrial Average closed at 30,516.74 for a drop of almost …

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World’s richest man praises recession as ‘good thing’

Elon Musk, the world’s richest man, has tweeted in praise of the recession facing the US in response to a follower’s question, suggesting it’s actually a “good thing” because “it has been raining money on fools for too long.” He blamed “Covid-19 stay-at-home stuff” for “tricking” people into thinking they …

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‘Recession shock coming,’ major US bank warns

The macroeconomic picture is deteriorating rapidly and could push the US economy into recession as the Federal Reserve tightens monetary policy to tame surging inflation, Bank of America (BofA) warned on Friday. “Inflation shock worsening, rates shock just beginning, recession shock coming,” BofA’s chief investment strategist, Michael Hartnett, wrote in …

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