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US headed for a deep recession in near future as stocks could fall 30%, analyst warns
Stocks notched a new record in mid-May, with the Dow Jones Industrial Average topping 40,000 for the first time ever, but they have since fallen from those highs.
Stock market could drop 5% or more before end of 2024: Wall Street analyst
CFRA Research's chief investment strategist said a tech-driven recent rally of share prices could come to an end after data for June showed that Americans were feeling gloomy about the...
This is when you can expect mortgage rates to go down -- and why you should buy before a recession hits
Patience is a virtue, especially when it comes to the wait for interest rates to lower amid the ongoing battle against languishing inflation.
Jamie Dimon warns interest rates could soar above 8%, throws doubt on 'soft landing'
JPMorgan Chase chief Jamie Dimon warned that US interest rates could surge to more than 8% in the coming years as record US debt and ongoing international conflicts complicate the...
Larry Summers throws cold water on Wall Street inflation forecasts: 'There's still a risk'
Summers, a senior financial adviser in the Clinton and Obama administrations, is sounding a note of caution.
Biden’s war on manufacturing, peace requires Hamas’ elimination and other commentary
“The Biden administration is engaged in an unprecedented effort to boost American manufacturing,” yet at the same time, it’s “layering more and more requirements on factories and utilities,” hamstringing the...
Gen X told to stop spending and start saving as almost half say they haven't done any retirement planning
Economist argues less spending equals ‘milder’ recession
Another housing crash? These are the markets most at risk of a downturn
According to ATTOM, the most vulnerable states are California, New Jersey and Illinois, though the New York City metro had neighborhoods that could be at risk.
US adds higher-than-expected 199,000 jobs in November
Fresh data released by the Bureau of Labor Statistics on Friday also noted that wages were up 4% compared to a year ago, to $34.10.
Economists forecast 50% recession odds amid stark economic slowdown in 2024
Economists expect the US GDP to slow to just 1% between the fourth quarter of 2023 and the fourth quarter of 2024, according to a new survey.
Price of gold surges to all-time high on the back of falling US dollar
The price of gold struck an all-time high on Monday, surging as much as 3% to trade at $2,135 per troy ounce as the US dollar fell. Though gold futures...
JPMorgan CEO warns Wall Street to prepare for a recession: 'Dangerous and inflationary'
JPMorgan chief Jamie Dimon sounded the alarm on a possible recession, warning Wall Street to prepare for the threat of rising interest rates even as inflation slows. “A lot of...
Fed will slash rates in first quarter to avoid 'hard landing': Ackman
Hedge fund titan Bill Ackman predicted the Federal Reserve will begin slashing interest rates as early as the first quarter to avert "a real risk of a hard landing" for the...
Jerome Powell says Fed 'will not hesitate' to hike rates 'until the job is done'
Federal Reserve Chair Jerome Powell reiterated that the central bank has yet to reach its 2% inflation target on Thursday, making it clear that there is no definitive end to...
Congress must get its act together and prevent a government shutdown — or recession is on its way
It’s never a good time for the US economy to be hit by a government shutdown. But now would be particularly inopportune — and a shutdown is looking likelier by the...
US consumer spending expected to shrink for the first time since the start of the pandemic: survey
More than half of the respondents to Bloomberg's latest Markets Live Plus survey said personal consumption in the US will turn negative come the new year, while another 21% said...
Biden is spending to stave off a recession — until after the election
The Nobel Prize-winning economist Robert Solow said in the 1980s, “You can see the computer age everywhere but in the productivity statistics.” The same could be said of American economic...
Asleep at the wheel: Mistake-prone Fed Reserve could be sending us into recession
Judging by all the policy mistakes Jerome Powell’s Federal Reserve is making, one has to wonder whether next year it will be accused of having been asleep at the wheel...
There's a 15% chance US will enter recession: Goldman Sachs
Goldman Sachs Chief Economist Jan Hatzius predicted that "real disposable income looks set to reaccelerate in 2024."
Millennials more prepared for a recession than Baby Boomers, poll finds
More than three in four (76%) feel prepared for a recession.