Tag Archives: recession

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” …

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 …

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 …

JPMorgan Chase has revised its midyear US growth outlook, sharply lowering expectations for second-quarter annualized real GDP growth to 1% from 2.5%, Bloomberg reported on Friday. The largest US bank also cut its projection for the third quarter to 1% from 2%. However, growth is expected to tick up to …

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 …

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 …

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 …

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 …

The report, called ‘The Inequality Virus’, was published on the opening day of the World Economic Forum in Davos, which is being held virtually this year. It showed that the 1,000 richest people on the planet recouped their coronavirus losses within just nine months, but “it could take more than …

“We’ve got data that’s confirmed both the saving and current account dynamic in a much more dramatic fashion than even I was looking for,” Roach told CNBC. According to him, “The current account deficit in the United States, which is the broadest measure of our international imbalance with the rest …